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Which of the following items is considered as a factor of production and which is considered as a raw material?
Which of the following items is considered as a factor of production and which is considered as a raw material? In case you classify an item as a factor of production, identify the type of the resource (land, labor, capital or entrepreneurship). Further, if an item is considered as a capital, identify whether this item is a human capital or a physical capital:- A computer used at Al Yamamah University for accounting system- Non-extracted crude oil- Asphalt used in road paving- The minister of Economy and Planning in Saudi Arabia- A screwdriver among the equipment of a construction firm- A training course for workers on using a new machine in a factory- Electricity supplied to run a production line in a food factory- The no. of hours that an accountant spends on preparing the financial statements of the company where s/he works.