Wheat will be considered as Capital.
Explanation:
There are four agreed upon types of economic resources according tot he economists in the world.
These include land labor capital and entrepreneurship or human capital or human capacity.
Wheat is a commodity that can be sold for profit and thus it can be considered as under the Capital part as it is valued in money and provides capital resource to whoever owns it.
This is the basic embarkation of the capital resource.
Answer:
This is an example of marginal analysis, as the decisions made by Raphael are on margin.
Explanation:
The decision of Raphael about pool versus bike time is totally a "how-much decision". It is clear that pool time and bike time can both reduce the time for race. However, the efficiency of pool time is high currently, and hence there is much sense in trying to spend more time in the pool and less on bike. This however makes no sense that all the time is spent in the pool and no time biking. Raphael only intends to alter the number of hours spend on each activity at the margin.
Answer:
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Answer:
Explanation:
Kwame Nkrumah
Ghanaian pan-africanist and the first Prime Minister and President of Ghana (1909-1972)
