type of reso e illustrated by each example. Natura land) Labor Capital Resources
ID: 1153476 • Letter: T
Question
type of reso e illustrated by each example. Natura land) Labor Capital Resources Oil that needs to be extracted for the The efforts of a construction worker A person whouses her life savings ction of gasoline to start a new business used by aG lant Question 3 (three points): Use the following scenario to identify if transactions take place in a product market or a factor market. Ana earns s900 per week working as a programmer for PC Pros. She uses $8 to order a mojito cocktail at Little Havana. Little Havana pays Yakoy 5350 per week to wait tables. Yakox uses S400 to purchase software from PC Pros. Question 4 ldentify whether each of the following events in this scenario occurs in the resource markets or the product markets Factor MarketsProduct Markets Yakox spends $400 to purchase software from PC Pros Yakoy earns $350 per week working for Little Havana. Ana spends $8 to order a mojito cocktailExplanation / Answer
a. oil that needs to be extracted for gasoline: It will be a natural resource since it is extracted out of land.
b. Efforts of a construction worker building a house: It will be a labor resource since labor is involved in the act.
c. A person who uses her life savings to start a new business: This will be categorized under enterpreneurship as new business is getting funded.
d. A musical instrument used by a professional band: The musical instrument can be treated as a capital resource since they will need capital for the same.
e. Machinery in petro chemical plant: This will be a capital resource as the machinery is a capital resource
PS: according to chegg rules, in event of multiple questions only first one is answered
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