An example of land capital would be_______
small business
hardware
oil
doctor
real estate
An example of land capital would be oil.
An example of land capital would be oil.
To understand why oil is considered a form of land capital, let's first define what land capital means. Land capital refers to the natural resources found within a specific geographic area, such as minerals, oil, gas, forests, and water bodies. These resources are considered part of the land's productive capacity and can be utilized to generate economic value.
In the case of oil, it is a non-renewable natural resource that is extracted from the ground. It is commonly used as a fuel source in various industries, including transportation, manufacturing, and energy production. Oil reserves are found underground, and the drilling and extraction process requires specialized equipment and expertise.
Therefore, oil represents land capital because it is a natural resource obtained from the land, which can be used to produce goods and services and has significant economic value.