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
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Related Book For
Economics Theory And Practice
ISBN: 9781118949733
11th Edition
Authors: Patrick J. Welch, Gerry F. Welch
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