In order to study economic relationships, we need a sensible way
to catergorize the various things in our economic world. Take a look at this list of things that have value. Which of
them would you place in the category of LABOR? Which are LAND? Which are CAPITAL? Are there some that don't fit in any of the three?
Some Things that Have Value: | |
Food in a Restaurant Oil in the Ground Your Mom's old House, which you Rent to Tenants Fish in the Ocean Teaching A Building Site Food on your table A $100 Bill |
A House You Live in A Truck A Broadcast Frequency Ditch Digging Computer Programming A Certificate for 100 Shares of Microsoft Playing Music in the Subway
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