Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

X Brent is a mechanic and has decided to venture out on his own. He used to work with cars and trucks in his garage

image text in transcribedimage text in transcribed
image text in transcribedimage text in transcribed
X Brent is a mechanic and has decided to venture out on his own. He used to work with cars and trucks in his garage at home, but now he has decided he is ready to take the next step and go into business for himself. Many of Brent's friends know that he has a good line on parts and often stores many parts at any given time. If he doesn't have them, he can find them. Therefore, often his friends call him to order for them. Brent is such a nice guy; he often delivers the parts to his friends who have broken down and need his help. From an economic perspective, which of the following would be considered capital for Brent's new business? Answer Yes (capital) or No (not capital) to each of the items below. His truck that he uses for deliveries. His savings account. V 3.C SunnHis new garage building. 1. Yes The civic lot that Brent has purchased that the garage is located on. 2. No V His skills and ability to solve any mechanical problem. His large assortment of tools he uses for repairs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introductory Econometrics A Modern Approach

Authors: Jeffrey Wooldridge

7th Edition

1337558869, 978-1337558860

More Books

Students also viewed these Economics questions

Question

b. What is the persons job title?

Answered: 1 week ago

Question

An action plan is prepared.

Answered: 1 week ago