The equipment and structures available to produce goods and services are called

Question

The equipment and structures available to produce goods and services are called

BlackTom AI · Accepted Answer

The question asks for the term that describes the equipment and structures used to produce goods and services.
Option 1: the production function. This term refers to the relationship between inputs (like labor, capital) and the output produced, not to the actual physical inputs themselves. It is a descriptive model, not the physical assets.
Option 2: physical capital. This is the correct concept: machinery, buildings, tools, and other tangible assets used in the production process.
Option 3: human capital. This describes the skills, knowledge, and abilities of workers, not the physical assets. It affects productivity but is not the equipment or structures themselves.
Option 4: technology. While technology can influence how production occurs, it is distinct from the physical assets; technology often reflects methods or knowledge that enable production, not the concrete items like machines and factories.
In summary, only physical capital appropriately denotes the physical assets required to produce goods and services, separating them from production models, human skills, or general technological methods.

The equipment and structures available to produce goods and services are called

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The equipment and structures available to produce goods and services are called

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类似问题

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Workers in ________ countries have ________ to work with than do workers in low income countries.

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Workers in countries have to work with than do workers in low income countries.