Question

Thinking about the four different factors of production, the dump trucks and excavators used to harvest iron ore from mines fall into which category?

natural resources

capital

human resources

entrepreneurship

When a government spends more money than it takes in via revanues, we call this a(n):

Surplus

Loss

Deficit

Debt

3) It's important to memorize your material word for word in order to deliver it effectively true/false

Answer 1

Ans:

1) Capital

Capital is the value of the financial assets and it includes cash, tangible machinery and production equipment used in factories.In this case dump trucks and excavators used to harvest iron ore from mines form part of capital.

2) Deficit

It is the difference between total revenue and total expenditure of the government.Hence When a government spends more money t​han its revenue its is called deficit.

3) False

The understanding of the concepts and its application will enable you to deliver it effectively.