Question

the term ______ refers to any human - made resource that is used to produce other goods and services.

○ labor

○ opportunity cost

○ scarcity

○ capital

Explanation:

• Labor refers to the human effort in production, not human - made resources.
• Opportunity cost is the cost of the next - best alternative forgone, not a human - made resource for production.
• Scarcity is the situation of limited resources relative to unlimited wants, not a production resource.
• Capital is defined as human - made resources (like machinery, buildings, tools) that are used to produce other goods and services.

Answer:

D. capital