Explain the opportunity cost of investing in capital. Is there any difference in the opportunity cost of investing in human capital versus physical capital?

Discuss the ways a college degree a form of capital.

Define the term, "human capital."

Explain Human Capital Theory: who are the major contributors and what it is about?

What is human capital? Is education important in increasing the quality of human capital or not?

Define resources. Discuss the differences between human and capitalresources, and give three examples of each.

Why is money not considered to be a capital resource in economics? Why is entrepreneurial ability considered a category of economic resource, distinct from labor? What are the major functions of the entrepreneur?

Marginal Produt and Resources How would you determine the demand for a factor of production? What factors influence the supply and demand for labor? Examine how those factors impact market demand for labor. How do labor unions try to increase the demand for labor? What has made labor unions such an integral part of the workforce? What is the difference between the rates of return for a renewable and nonrenewable resource? How do the rates of return on capital and land differ between a renewable resource and nonrenewable resource? How does the growing demand for food, fuel, and export affect the market for land?

Explain how households and firms interact in the factor market and in the product market

According to Adam Smith, which one was not the reason why division of labor increases output? Select one: a. Invention of new machinery. b. Increase labor skills. c. Time-consuming. d. Increase efficiency