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Sati [7]
3 years ago
14

Three examples of capital as a factor of production, and explain how it is different from land?

Business
2 answers:
Morgarella [4.7K]3 years ago
4 0
<span>Capital as a factor of production is defined as the tangible products made by labor.
</span>Land as a factor of production means not just the surface of the earth, but everything in the universe that wasn't created by people. This includes all natural resources, such as air, water, plants, sunlight, rocks, and minerals. 
Examples:
1) Clothes ( because you have to be clothed)
2) Milk ( you immediately want to consume it)
3) Wine ( grapes go in wine comes out) 
You don't need to use the parenthesis I just wanted to explain to help you understand. 

Liono4ka [1.6K]3 years ago
4 0

Answer and Explanation.

Production is a process of a process of bringing the raw materials together, work on them to come up with finished goods as the final product in order to make profit or with an aim of getting profit.

A factor of production is anything that is incurred in production of goods and services to facilitate the its production in order to to make profit.

capital factor of production is the is the amount in cash that many producers use to produce goods and services. Examples are use of computers,trucks to deliver goods and services ,forklifts e.t.c. they include all man made resources.

The difference between capital and land factors of production is that capital includes all man made resources while land factor includes all human resources.

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Your employer is trying to select from a list of possible capital projects. The projects, along with their cost and benefits, ar
den301095 [7]

Answer:

Project 1, 2 and 3 will be selected

Total NPV of these projects will be $2,190,000

Explanation:

Availability of capital = 1 million

Minimum 2 projects should be selected

Project 2 and 4 cannot be selected together.

Value of project =  NPV / Cost

P1 = 720,000 / 300,000 = 2.4

P2 = 780,000 / 260,000 = 3

P3 = 690,000 / 215,000 = 3.2

P4 = 700,000 / 240,000 = 2.9

P5 = 510,000 / 295,000 = 1.7

8 0
3 years ago
The preferred approach to allocate joint costs to products is the value basis, which allocates a joint cost in proportion to the
ddd [48]

Allocation of joint costs in proportion to the value of the output of the sales which were produced in the process during at the split-off point is a preferred approach.

<h3>What are joint costs?</h3>

Joint costs involve the benefit of more than one product, and the separation of the costs of such products is impossible as the benefits related thereto are also joint.

One of the best examples of joint costs is in a condition when a cattle-owner feeds both the flock of sheep and cattle of cows at the same time. One cannot differentiate between the separate costs allocated.

Hence, it may be said that value basis is the most appropriate method for the purpose of allocation of joint costs being incurred in the proportion as it may be.

Learn more about joint costs here:

brainly.com/question/13537893

#SPJ1

6 0
2 years ago
The general services administration (gsa was set up as an independent agency _____.
ahrayia [7]
To Take care of the construction and operation of public buildings
3 0
4 years ago
Read 2 more answers
Best Foods Co. is considering expanding beyond the regional market segments now served by its Hellmann's mayonnaise. One criteri
WITCHER [35]

Answer:

Option  E                    

Explanation:

In simple words, the given case illustrates the cost analysis method for choosing target market segments. Under such criterion of selection, the subject company identifies various costs that it must bear in order to operate in some potential segment and after identifying those cost, such company evaluates if there will be any profit left for them in the market.

This method is complex, time consuming and needs experts advise but still is most popular nowadays as it gives most accurate results by identifying various quantitative and qualitative factors.  

3 0
4 years ago
Answer the next question based on the following price and output data over a five-year period for an economy that produces only
marysya [2.9K]

Answer:

$90

Explanation:

The computation of the nominal GDP for the year 4 is shown below:

= Quantity at year 4 × price of year 4

= 18 × $5

= $90

For determining the Nominal GDP for the year 4 we simply multiply the quantity at year 4 with the price of year 4

Hence, the last option is correct

8 0
3 years ago
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