Principles of Microeconomics (12th Edition)
Principles of Microeconomics (12th Edition)
12th Edition
ISBN: 9780134078816
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
Question
Book Icon
Chapter 11, Problem 1.1P

(a)

To determine

Classifying capital.

(a)

Expert Solution
Check Mark

Explanation of Solution

Life guard training and certification from the Red Cross is regarded as the intangible human capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(b)

To determine

Classifying capital.

(b)

Expert Solution
Check Mark

Explanation of Solution

The ice cream factory is regarded as tangible capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(c)

To determine

Classifying capital.

(c)

Expert Solution
Check Mark

Explanation of Solution

The roller coaster is regarded as the tangible capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(d)

To determine

Classifying capital.

(d)

Expert Solution
Check Mark

Explanation of Solution

Individual retirement account cannot be regarded as the capital, as it is merely a financial instrument.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(e)

To determine

Classifying capital.

(e)

Expert Solution
Check Mark

Explanation of Solution

The Air and Space Museum is regarded as social capital or infrastructure.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(f)

To determine

Classifying capital.

(f)

Expert Solution
Check Mark

Explanation of Solution

The shares of a stock are merely a financial instrument, as is not regarded as capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(g)

To determine

Classifying capital.

(g)

Expert Solution
Check Mark

Explanation of Solution

All terrain vehicles are represented as a social capital or infrastructure.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(h)

To determine

Classifying capital.

(h)

Expert Solution
Check Mark

Explanation of Solution

Cans of paint are regarded as tangible capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(i)

To determine

Classifying capital.

(i)

Expert Solution
Check Mark

Explanation of Solution

Dollar coins are not capital but a financial instrument.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

(j)

To determine

Classifying capital.

(j)

Expert Solution
Check Mark

Explanation of Solution

Home for cubs is a tangible capital.

Economics Concept Introduction

Capital: In economic terms, capital can be defined as goods produced by the economic system that is used as inputs for production of other goods and services in the future.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Can you tell me what the top 50 companies are from market capitalisation in Australia on the date 28 APRIL 2023?   What does this show in reference to the sectors that are made up in the Australian economy?
Describe the capital stock of your university in terms of tangible and intangible concepts. How would you go about measuring its value?
What is the opportunity cost to the society of investing in capital?
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Economics Today and Tomorrow, Student Edition
Economics
ISBN:9780078747663
Author:McGraw-Hill
Publisher:Glencoe/McGraw-Hill School Pub Co
Text book image
Economics (MindTap Course List)
Economics
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Cengage Learning
Text book image
Microeconomics
Economics
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Cengage Learning
Text book image
Microeconomics: Private and Public Choice (MindTa...
Economics
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Text book image
Economics: Private and Public Choice (MindTap Cou...
Economics
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:Cengage Learning
Text book image
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc