Answer :
The statement "The United States making cars because it has the right types of natural, human and capital resources" is an example of specialization. Specialization refers to the process of focusing on producing goods or services that a country or individual can efficiently produce due to factors like resources, expertise, or technology.
In this context:
1. Natural resources: The United States has access to resources like steel, aluminum, and oil needed for car production.
2. Human resources: Skilled labor and expertise in engineering, design, and manufacturing play a crucial role in car production.
3. Capital resources: The country's access to machinery, factories, and financial resources enables efficient car manufacturing.
By specializing in car production based on its abundant natural, human, and capital resources, the United States can produce cars more effectively and competitively in the global market. This specialization allows for increased efficiency, productivity, and ultimately economic growth.
In this context:
1. Natural resources: The United States has access to resources like steel, aluminum, and oil needed for car production.
2. Human resources: Skilled labor and expertise in engineering, design, and manufacturing play a crucial role in car production.
3. Capital resources: The country's access to machinery, factories, and financial resources enables efficient car manufacturing.
By specializing in car production based on its abundant natural, human, and capital resources, the United States can produce cars more effectively and competitively in the global market. This specialization allows for increased efficiency, productivity, and ultimately economic growth.
