posted by Ami on .
8. Which factor of production is represented by each of the following?
An office building:
An assembly line worker:
A tree used to make paper:
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.
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.