Which of the following would be an example of capital for a retail gasoline station?
(i)the gas tanks and pumps
(ii)the service attendants' time
(iii)the plot of land on which the station sits
A)(i) only
B)(iii) only
C)(i) and (iii) only
D)(ii) and (iii) only

Question

Quizplus · Accepted Answer

Capital refers to the tools, equipment, and facilities used in the production of goods and services. In this context, the gas tanks and pumps are considered capital as they are essential equipment for the operation of the gasoline station. The service attendants' time is labor, and the plot of land is a natural resource, not capital.

Which of the Following Would Be an Example of Capital