QQuestionEconomics
QuestionEconomics
"A trained automobile mechanic would be an example of:
A. Capital Goods
B. Entrepreneurship
C. Human Capital
D. Natural Resources"
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Answer
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Step 1Let's solve this problem step by step:
Step 2: Understand the Key Concepts
- Capital Goods are physical assets used to produce other goods or services (like machinery, tools) - Entrepreneurship is the ability to start and run a business - Human Capital refers to the skills, knowledge, and experience possessed by an individual - Natural Resources are raw materials found in nature (like land, water, minerals)
Final Answer
Human Capital Explanation: A trained automobile mechanic represents human capital because they possess specialized skills, knowledge, and training that increase their economic productivity and potential to generate value in the workforce.
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