객관식
Which of the following best describes 'capital' as a factor of production?
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0. Basic Principles of Economics
Factors of Production
객관식
Which of the following statements is correct about the roles of economists in relation to the factors of production?
A
Economists classify land, labor, capital, and entrepreneurship as the four main factors of production.
B
Economists consider only land and labor as factors of production.
C
Economists believe that entrepreneurship is not a separate factor of production.
D
Economists define capital as only financial assets used in production.
검증된 단계별 안내1
Step 1: Understand the concept of factors of production in microeconomics. These are the inputs used to produce goods and services and typically include land, labor, capital, and entrepreneurship.
Step 2: Recognize that economists classify these four categories distinctly: 'land' refers to natural resources, 'labor' to human effort, 'capital' to physical tools and machinery (not financial assets), and 'entrepreneurship' to the ability to organize and take risks in production.
Step 3: Evaluate each statement by comparing it to the standard economic definitions:
- The first statement correctly lists all four factors.
- The second statement omits capital and entrepreneurship, which are essential factors.
- The third statement denies entrepreneurship as a separate factor, which contradicts economic theory.
- The fourth statement incorrectly defines capital as financial assets, whereas capital in economics refers to physical capital.
Step 4: Conclude that the correct statement is the one that includes all four factors of production as recognized by economists: land, labor, capital, and entrepreneurship.
Step 5: Remember that understanding these definitions is crucial for analyzing production processes and resource allocation in microeconomics.
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