2. Explain the term Physical capital. mention it different types with examples.
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Explanation:
Physical capital is of two type:- Fixed capital- It includes tools and machines ranging from simple tools like - farmer's plough and machines like - generators, turbines, computers. Actually tools, machines and buildings can be used in production over many years, and are called fixed capital.
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Answer:
Physical capital represents in economics one of the three primary factors of production. Physical capital is the apparatus used to produce a good and services.
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