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Define Or Explain the Following Concept: Capital - Economics

Short Note

Define or explain the following concept:

Capital

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Solution

Capital includes money invested in the business, machinery and tools. A moneylender or a capital owner receives interest on the amount of capital contributed by him in the production. It is regarded as an artificial factor of production. This is because it cannot produce goods on its own.

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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 7 Factors of Production
Exercise | Q 1.5 | Page 60
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