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Capital refers to man-made resources essential for production, with a factory being an example. Oil is a natural resource.
In economics, capital refers to man-made resources used in production, such as buildings, factories, and tools. These resources are essential for producing goods and services.
Out of the options given, a factory is an example of capital since it is a man-made structure that aids in production. Oil, on the other hand, is a natural resource, not capital.
Understanding the distinction between capital, labor, and natural resources is crucial in economics to analyze production processes and resource allocation.
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