Classify each of the following factors of production into one of the four resource categories used in

Question:

Classify each of the following factors of production into one of the four resource categories used in economics, and identify the income return to the owners of each factor.

a. The scanner used to check out groceries in a supermarket

b. The instructor of this course

c. A pasture used for grazing a herd of cattle

d. A coffee urn used by a catering service

e. The person who just started her own lawn service company

f. The manager of a restaurant that is part of a national chain 

g. The green field site ready for construction of a new big box store

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Economics Theory And Practice

ISBN: 9781118949733

11th Edition

Authors: Patrick J. Welch, Gerry F. Welch

Question Posted: