Examples of resources include land, labor, and capital. A factory used in the production of cars is an example of capital .

Question

BlackTom AI · Accepted Answer

The prompt presents a statement about resources and identifies a component of the production process. 
Since the question is a dropdown-style item and the provided answer is capital, we can reason through why this classification fits.
First, recall the economic definitions: land refers to natural resources used in production, labor means the human effort used to produce goods and services, and capital consists of man-made inputs that help produce other goods (like factories, machines, tools).
Applying these definitions to the example: a factory used in the production of cars is not land (it’s not a natural resource), nor is it labor (it’s not human effort or workers themselves). It is a human-made, durable input that enables production, which is precisely what economists classify as capital.
Therefore, labeling the factory as capital aligns with standard economic terminology and the broad resource trio (land, labor, capital).
If there were other options, we would compare them against these definitions: land would be a site or resource from nature, labor would be people’s work, and capital would be the manufactured means of production. The factory clearly fits the capital category rather than the other two.
In summary, the statement that a factory is an example of capital is consistent with foundational economic concepts, and it correctly identifies the factory as a capital resource rather than land or labor.

Princip of Econ-Macroeconomics Chapter 1 Homework

Examples of resources include land, labor, and capital. A factory used in the production of cars is an example of capital .

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