A.P. Economics

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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:
Unused soil:
An artist:
A student:

  • A.P. Economics -

    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

  • A.P. Economics -

    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

  • A.P. Economics -

    They're all right.

    I'm not sure, however, that a student belongs in any group of production factors.

  • A.P. Economics -

    Thank you so much!!!

  • A.P. Economics -

    You're very welcome.

  • A.P. Economics -

    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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