Questions: When a chef prepares a dinner for a customer, which factor is physical capital? the food ingredients the chef's training and experience the chef the oven

When a chef prepares a dinner for a customer, which factor is physical capital? the food ingredients the chef's training and experience the chef the oven
Transcript text: When a chef prepares a dinner for a customer, which factor is physical capital? the food ingredients the chef's training and experience the chef the oven
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Solution

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Answer

The answer is the oven.

Explanation
Option 1: The food ingredients

Food ingredients are considered raw materials or natural resources, not physical capital.

Option 2: The chef's training and experience

The chef's training and experience are examples of human capital, which refers to the skills and knowledge that individuals possess.

Option 3: The chef

The chef is a human resource, not physical capital.

Option 4: The oven

The oven is a piece of equipment used in the production process, making it an example of physical capital. Physical capital includes tools, machinery, and equipment used to produce goods and services.

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