Asked by
Verified
The value of capital is as great as the services it produces over time.
Tangible Capital
Physical assets owned by a firm or individual that are used in the production of goods and services, such as machinery, buildings, and vehicles.
Capital
The collection of physical and financial assets used by an individual or organization to produce goods and services.
Services
Services like accounting, banking, cleaning, consulting, education, insurance, professional knowledge, medical care, and transportation that cannot be physically touched.
- Understand the definition and value of capital in economic systems.
Verified Answer
Learning Objectives
- Understand the definition and value of capital in economic systems.
Related questions
Physical Capital Refers to Material Things Used as Inputs in ...
Those Goods Produced by the Economic System That Are Used ...
The Inputs into the Process of Production Are Called Factors ...
Things That Have Already Been Produced That Are in Turn ...
In Economics, the Term Capital Refers Only to Some Form ...