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Oil found underground in texas is an example of:
Oil found underground in texas is an example of: a. land or a natural resource.
b. labor.
c. capital resource.
d. an entrepreneur.
Final answer:Oil found underground in Texas is an example of a land or natural resource because it is a raw material from the Earth that can be used to produce goods and services. Over time, as technology evolved, oil's utility has expanded, making it a highly valuable commodity. Categories such as labor and capital resources also define different elements of production, with examples including workers as labor and buildings as capital resources. Therefore the correct option is AExplanation:Natural resources are materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain. Oil is considered a natural resource because it is a raw material that is found in the Earth and can be used to produce goods and services, such as energy, plastics, and various other products. The importance of oil has grown substantially since methods for its extraction and refinement were developed, transforming it into a commodity of great value and utility.Oil Rig: The oil rig is a tool to extract this resource, and as demand for oil increases due to its net marginal productivity, so does the demand for oil.Here is a brief explanation of labor, capital, and natural resources through examples:An unemployed factory worker - LaborA college professor - LaborThe library building on your campus - Capital resourceYellowstone National Park - Natural resourceAn untapped deposit of natural gas - Natural resourceThe White House - Capital resourceThe local power plant - Capital resource...