The fish in the ocean are what type of market resource?multiple choicelandentrepreneurial abilitylaborcapital
Question
The fish in the ocean are what type of market resource?
- multiple choice
- land
- entrepreneurial ability
- labor
- capital
Solution
The fish in the ocean can be considered a type of land resource. This categorization is based on the economic factors of production, which include land, labor, capital, and entrepreneurial ability.
-
Land Resources: This term encompasses all natural resources that are found in nature, including not only the physical land but also resources derived from the land. Fish, as a natural resource obtained from the oceans, fall under this category because they are part of the marine ecosystem that provides various types of seafood.
-
Labor Resources: This refers to the human effort used in the production of goods and services. Although fishing involves labor, the fish themselves are not categorized as labor resources.
-
Capital Resources: These are man-made goods used in the production of other goods and services, such as fishing boats or nets. Again, fish do not fit this category.
-
Entrepreneurial Ability: This involves the skills and risk-taking ability of individuals who start and manage businesses. While entrepreneurs in the fishing industry utilize fish, the fish themselves do not qualify as an entrepreneurial resource.
Thus, fish from the ocean are best classified as a land resource because they are a natural product harvested from the marine environment.
Similar Questions
The fish in the ocean are what type of market resource?multiple choicelandentrepreneurial abilitylaborcapital
The management and production of fish is called?PiscicultureApicultureSericultureAquaculture
Complete the sequence of the Blue Ocean Stratgey: Buyer Utility, Price, Cost…..Select one:a.Repeatb.Manufaacturec.Adoptiond.None of these
Economists classify markets into different types referred to as market ______.Multiple choice question.species.families.structures.
Walleye fish are what?Multiple Choicesecondary consumerstertiary consumersprimary consumersproducersdecomposers
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.