Posted by Ami on Thursday, August 6, 2009 at 5:58pm.
Read this site carefully, and I'm sure you can answer this question. If you post your answers, we'll be glad to check them.
http://www.answers.com/topic/factors-of-production
Thank you so much for the post Ms. Sue! Can you check the answer for me??? Thnak you! Here is what I guess:
An office building: capital
An assembly line worker: labor
A tree used to make paper: capital
Unused soil: land
An artist: labor
A student: labor
They're all right.
I'm not sure, however, that a student belongs in any group of production factors.
Thank you so much!!!
You're very welcome.
I would put the tree into land. But this is certainly debatable.
A paper company that specifically planted the tree with the intent to use the wood to make paper might very well call the tree a piece of capital.
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