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April 21, 2014

Homework Help: A.P. Economics (Please check if I'm right)

Posted by Ami on Thursday, August 6, 2009 at 7:20pm.

Leaving class today, you decide to start an economics tutoring business. Your first step is to get the two categories of capital. Next you need to obtain the other factors of production. Specifically, what do you need in terms of land, labor, and capital.

My Ans: Physical capital could be the building where the tutoring class takes place. Human capital would be the knowledge I gain by studying in the classroom.

I don't get what I should write in terms of land and labor??? Please help!!!

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