You and several friends are stranded on a desert island. the group decides to gather coconuts. being afraid of heights, the group decides that the best way to gather coconuts would be to knock them down by throwing rocks at them. later, it is decided to build a catapult to hurl the rocks into the tops of the palm trees. how would economists classify the rocks and the catapult?

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Grover

Business

2 October, 08:56

You and several friends are stranded on a desert island. the group decides to gather coconuts. being afraid of heights, the group decides that the best way to gather coconuts would be to knock them down by throwing rocks at them. later, it is decided to build a catapult to hurl the rocks into the tops of the palm trees. how would economists classify the rocks and the catapult?

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Doyle · Answer 1

Capital is a way of having land and labor to be involved for production. In the given scenario above, the catapult and rock would be a capital since it is needed to be made by people in order to gain something or it is used for production.