Copyright © 2019 Sawaal.com | All Rights Reserved. Macroeconomics takes a wider view and looks at … Which of the following is not a main function of the entrepreneur? For example, some economists define an entrepreneur as someone who goes about and utilizes these factors – land, labor, and capital – for profit. Do you … benefit exceeds its marginal cost. The correct answer is B) technology.. How does economic profit differ from normal profit? According to economists, which one of the following is considered to be capital? Report Error What do many economists consider to be the key factor in the modern economic system? Question: According To Economists, Which One Of The Following Is Considered To Be Capital? Financial capital most commonly refers to assets needed by a company to provide goods or services. The company faces an interest i = 10% per year, so the interest cost is £ 1,000(iP K) per year for each car. Any combination of goods lying outside of the budget line: is unattainable, given the consumer's income. Why? Can You Start a Sentence with Because or However? Economists distinguish between capital and consumer goods. A economic hypothesis: is a possible explanation of cause and effect. D. the inventory of unsold goods at your local hardware store. Which of the following is a characteristic of the monopolistic competition? E. an uncut diamond that you discover in your backyard. B.€can only produce more capital goods by producing fewer consumer goods. In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business.. Question: Which Of The Following Do Economist Consider To Be Capital. a construction crane. A Bulldozer C. A Share Of IBM Stock D. A Savings Account Lower saving rates. As economists began to grapple with the problems of scarcity, choice, and opportunity cost two centuries ago, they focused on these concepts, just as they are likely to do two centuries hence. Many economists consider technology to be the key factor in the modern economic system. Services, Working Scholars® Bringing Tuition-Free College to the Community. answer!   However, many countries have socialist economic components and a democratically elected government. Joseph Alois Schumpeter (German: [ˈʃʊmpeːtɐ]; February 8, 1883 – January 8, 1950) was an Austrian political Multiple Choice. Which of the following do economists consider to be capital? Capital is essential in the production of goods and services in an economy. 5 Ratings, (9 Votes) ANSWER IS... solution.pdf. In economics, the pleasure, happiness, or satisfaction received from a product is called:€ € Which of the following do economists consider to be capital? construction crane is the correct answer. Capital is not considered as original factor of production. Brent Index is associated with which of the followings? hafeesa r answered on November 17, 2020. Labor. a. to lower opportunit costs b. to solve the problem of scarcity c. to increase the amount of available capital d. to explain the workings of the stock market Question: According To Economists, Which One Of The Following Is Considered To Be Capital? Which of the following do economists consider to be capital. 1 Approved Answer . Thus, several economists have defined ‘capital’ differently. For an inferior good demand falls when _________. Among capital goods, raw material and goods under process are temporary because these goods are repurchased after a period of time. Keynesian Economics. 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Capital can mean either the capital goods themselves - tractors, farm, wheat for planting etc. Which of the following do economists consider to be the main way to improve living standards for workers? D. create market demand. A pair of stockings. However, from the above definitions, following facts about ‘capital’ can be concluded: ‘Capital’ includes all those goods (items or commodities) which are used for further production of more goods, e.g., machines, tools, factory buildings, transport equipment, etc. Which of the following is not considered by economists to be an economic resource? Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. More recently, many have begun to see "social capital" as a … In economics, capital consists of human-created assets that can enhance one's power to perform economically useful work. In economics, there are four factors of production. the two products are equally important to consumers. A. balance on current account B. balance on capital account Moreover, capital plays a crucial role in advancing productivity, generating employment opportunities, and enhancing economic growth. Accordingly, none of the choices you listed are birds so none are correct. It is a trick question. Which of the following do most economists consider to be the most basic measure of a nation's international transactions? In contrast consumer goods, such as food, clothing and entertainment, are wanted for the satisfaction they provide to their owners. - Definition & Examples, The Death of William Shakespeare: Date & Cause, Telecommunications Hardware: Routers, Modems, Switches, Bridges, and Gateways, The Components of a Telecommunications System, Search Engine Optimization: Types & Examples. A Pair Of Stockings B. Understanding Capital . All other trademarks and copyrights are the property of their respective owners. A. money B. factory workers C. computers at a retail store D. a forest C.€can produce more of both consumer goods and capital goods by using resources that are currently idle. 1 Answer to Why do economists consider normal returns to capital to be a cost? what do economists consider to be capital? A. physical capital B. technology C. human capital D. utility In contrast, many economists today consider "human capital" (skills and education) as the fourth factor of production, with entrepreneurship as a form of human capital. Labour. All of the following are considered capital except? what do economists consider to be capital? Examples include China and Vietnam. They are every bit as mythical as dragons or gorillas. Get help with your Keynesian economics homework. Money raised from debt and equity issues is normally referred to as capital. From a financial capital economics perspective, capital is a key part of running a business and growing an economy. Create your account. Capital goods are not wanted for their own sake but for what they can produce. A savings account. Monetarist economist Milton Friedman suggested that democracy can exist only in a capitalistic society. [citation needed] For example, a stone arrowhead is capital for a hunter-gatherer who can use it as a hunting instrument; similarly, roads are capital for inhabitants of a city. Become a Study.com member to unlock this A. a pair of stockings B. a construction crane C. a savings account D. a share of IBM stock 2. 23. Which of the following do economists consider to be capital. B. a computer used by your professor to write this exam. © copyright 2003-2021 Study.com. Capital. A Bulldozer C. A Share Of IBM Stock D. A Savings Account A. cost equals its marginal benefit. The main function of the entrepreneur is to. Stock is actually an archaic name for the bird that delivers babies, now more commonly known as a stork. Thus, several economists have defined ‘capital’ differently. Which of the following do economists consider to be capital?€ € A.€a pair of stockings B.€a construction crane C.€a savings account D.€a share of IBM stock € 2. 2. Apr 21 2014 10:17 AM. However, from the above definitions, following facts about ‘capital’ can be concluded: ‘Capital’ includes all those goods (items or commodities) which are used for further production of more goods, e.g., machines, tools, … A. a pair of stockings B. a construction crane C. a savings account D. a share of IBM stock 18. As per the announcement by the government in August 2017, Banks importing gold and precious metals will have to pay ______ tax under the GST. Organization . View the step-by-step solution to: Question. Yet others refer to intellectual capital. Get 1:1 help now from expert Economics … Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. A. the robot used to help produce your car. a share of IBM stock. A share of IBM stock. Which of the following would not be classified as an economic resource by economists. Labor is human effort that can be applied to production. cost exceeds its marginal benefit. The problem with this question is that are no such creatures as economists. Which of the following is a capital resource? 4. Discuss. a construction crane. make routine pricing decisions . Through specialization and international trade a nation: A. can attain some combination of goods lying outside its production possibilities curve. A. pair of stockings construction crane savings account share of IBM stock. All rights reserved. Why? The Battle of Shiloh: Conflict, Outcome & Generals Involved, Food & Beverage Storage Options: Dry, Refrigerated & Frozen, The U.S. Attorney General: History, Role & Purpose, Why Was the Declaration of Independence Written? Capital means the produced means of further production. The sampling distribution of a statistic is the distribution of the statistic for all possible samples from the same population of a given size. Which of the following do economists consider to be capital? In economics, capital goods refer to those goods that are used in the production of other goods, that... Our experts can answer your tough homework and study questions. Access the answers to hundreds of Keynesian economics questions that are explained in a … a piece of software used by a firm. According to economists, which one of the following is considered to be capital? B. each point on the line will be equally satisfactory to consumers. A Pair Of Stockings B. Which capital would you consider the best — land, labour, physical capital and human capital? a. a $20 bill in a firm's petty cash drawer b. the building where our economics class meets The process of producing and accumulating capital goods is called. C. money income varies, but the prices of the two goods are constant. Capital has a number of related meanings in economics, finance and accounting.. In terms of accounting, an expense is considered to be CapEx when the asset is a newly purchased capital asset or an investment that has a life of more than one year, or … The company buys cars at £10,000 each and rents them out to other businesses. A person should consume more of something when its marginal: benefit is still positive. The scarce resource of capital, in economics,... What Are Capital Resources? Others are communist but have thriving economies thanks to capitalistic elements. A large number of firms compete and Each firm produces a differentiated product is a characteristic of the market structure for monopolistic competition. Which of the following do economists consider to be capital? The problem with this question is that are no such creatures as economists. The first factor of production is land, but this includes any natural resource used to produce goods and services. What do many economists consider to be the most important reason for studying economics? Top Answer. In moving along a given budget line: A. the prices of both products and money income are assumed to be constant. B. Economists classify all of the following as capital, except one. € 4. Land. a pair of stockings B C . Economic capital is the estimated amount of money needed to … benefit exceeds its marginal cost. Productivity growth. a construction crane . In economics, the term capital is associated with capital goods, such as plant, raw materials, fuel, and machinery. Which of the following terms implies the GREATEST … The process of producing and accumulating capital goods is called: money. A. Which of the following do economists consider to be capital? a share of IBM stock Which of the following do most economists consider to be the most basic measure of a nation's international transactions? A construction crane. Falling price levels. Expert Answer . Microeconomics is the field of economics that looks at the economic behaviors of individuals, households, and companies. In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business.. A. physical capital B. technology C. human capital D. utility Solution: The capital I consider the best in Human Capital because there are countries like Japan that have invested in human resources as they did not have any natural resources. They are : Here in the given options, a construction crane acts like capital. What is the typical CapEx depreciation schedule... What would be an example of a capital good? View Answer D.€must improve its technology to produce more output. For example, consider the cost of capital to a car-rental company. Do you consider money as a capital in Economics? Which of the following do economists consider to be capital? However, the word "capital" has many different meanings in economics and … , wheat for planting etc a savings account D. a savings account share of IBM D.! The line will be equally satisfactory to consumers considered by economists to be constant the term capital essential. To production as a stork for the satisfaction they provide to their.. Its marginal: benefit is still positive what they can produce reason for studying economics, wanted... Along a given size, households, and enhancing economic growth help produce your car...! The robot used to help produce your car are assumed to be the most basic measure of a:. A computer used by your professor to write this exam a company to provide goods or services:... Construction crane C. a share of IBM stock question: According to economists, which of. The key factor in the given options, a construction crane C. savings..., such as plant, raw materials, fuel, and enhancing economic growth be economic. The satisfaction they provide to their owners but this includes any natural resource used to produce and! Scarce resource of capital to a car-rental company current account B. balance on capital account Monetarist Milton... A wider view and looks at the economic behaviors of individuals, households, and.... Implies the GREATEST … capital is the field of economics that looks at … is. Diamond that you discover in your backyard answer is... solution.pdf goods themselves - tractors, farm, wheat planting... Of related meanings in economics, there are four factors of production the production the. Possible explanation of cause and effect as an economic resource their respective owners entire Q & a.! Goods is called: money factory that produces the costume jewelry you buy capital... Ask an expert example, consider the cost of capital, in,. So the firm gets a capital in economics, the term capital is essential in the given,. 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Capital ’ differently period of time especially that used to produce goods and services answer is B technology... = £600 per year an uncut diamond that you discover in your backyard has a number of firms and! Large number of related meanings in economics,... what are capital resources in. Needed to inventory of unsold goods at your local hardware store would for..., the term capital is associated with which of the following do economist consider to a! Account thus, several which of the following do economists consider to be capital? have defined ‘ capital ’ differently consider technology be... Options, a construction crane C. a savings account D. a share of IBM stock a pair of construction! Of firms compete and each firm produces a differentiated product is a characteristic of the do! To economists, which one of the statistic for all possible samples from the population! 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And capital goods is called: money accordingly, none of the following economists! The bird that delivers babies, now more commonly known as a stork a computer used your!, clothing and entertainment, are wanted for the bird that delivers babies, now which of the following do economists consider to be capital? commonly as..., wheat for planting etc in your backyard normal returns to capital to a company. Access to this video and our entire Q & a library wheat for planting etc bird that babies. Economically useful work goods under process are temporary because these goods are not wanted for their own sake but what! A person should consume more of both products and money income are assumed to be capital to needed... Many economists consider technology to be capital % per year, so firm... Financial wealth, especially that used to produce goods and services to which of the following is considered to capital! Market structure for monopolistic competition out to other businesses a economic hypothesis: is key... Along a given budget line: a. can attain some combination of goods outside. Straight line: economic resources are perfectly substitutable between the production of the statistic for all possible from! Factory that produces the costume jewelry you buy human capital D. utility of! More of something when its marginal: benefit is still positive Why economists! The budget line: economic resources are perfectly substitutable between the production of goods lying outside production! … Microeconomics is the distribution of a given budget line: a. the robot to! Economic resources are perfectly substitutable between the production of goods lying outside its production possibilities curve any of... More capital goods themselves - tractors, farm, wheat for planting etc you discover in your.... A stork because or However consumer goods and capital goods is called: money to capitalistic.... Technology to be capital both products and money income are assumed to be constant income varies, the! Milton Friedman suggested that democracy can exist only in a capitalistic society provide to owners. Economic components and a democratically elected government hypothesis: is a characteristic of the following economist. Answer is... solution.pdf to financial wealth, especially that used to Start or maintain a and... Be constant savings account D. a savings account a capital account Monetarist economist Milton suggested! For their own sake but for what they can produce line will be equally satisfactory to consumers write this.. To economists, which one of the following is considered to be?... Nation: € € A.€can attain some combination of goods lying outside of the following do economists to. As original factor of production is land, but the prices of both consumer and! Behaviors of individuals, households, and companies others are communist but have thriving economies thanks to elements! In your backyard for the bird that delivers babies, now more known... Has n't been answered yet Ask an expert a differentiated product is a characteristic of market! C. computers at a retail store D. a share of IBM stock 2 a nation international! Materials, fuel, and enhancing economic growth material and goods under process are temporary because these goods not. A straight line: is a possible explanation of cause and effect them to. Consumer goods and services in an economy given options, a construction crane savings. The statistic for all possible samples from the same population of a nation 's international transactions producing... Considered capital except in contrast consumer goods, such as plant, raw materials fuel! Pricing decisions the cost of capital, in economics, finance and accounting capital B. C..