Is each of the following items a resource (factor of production) or not?
(A) An acre of land in Napa:
(B) The accounting skills one gains from earning a Business degree:
(C) The profit of $10 million earned by a company in NY:
(D) 100 Shares of IBM stocks:
My thoughts:
(A) As long as use the land in Napa to produce it is considered a factor of production.
(B) If I am providing an accounting service then yes my accounting skills I gained from earning a Business degree is a factor of production.
(C) No, because a factor of production are inputs used to make a profit, therefore, the profit is what I earned using the factors of production.
(D) No, because it is considered financial capital. I purchased partial ownership in hopes of receiving a portion of future profits. Unfortunately there is not a guarantee of future returns leaving me with no goods or services.
Can you please help me and make sure I am on the right track.