ICSE Class 10 Answered

what is capital? if it is produced means of production what does this produced means of production mean??

Asked by Pratham | 31 Dec, 2017, 08:13: PM

Expert Answer

Capital is defined as the produced means of production. This implies two facts- (i)produced means produced by human with availble naturaql resources and is not gift of nature. (ii) Means of production states that it is used as an input in producing other goods which is not directly consumed.

Answered by Tharageswari S | 01 Jan, 2018, 04:05: PM