5.What do you mean by working capital?
1) this capital refers to the variety of raw material and money in hand during the production in order to make payments and buy other necessary items.
2) This refers to knowledge and enterprise required to put together land labour and physical capital and produce and output for self consumption or to sell in the market.
3) At every stage of production we need a variety of inputs such as machines raw materials and money
4) option a and b
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Variety of inputs that get used up in the process of production are known as working capital. Examples of working capital are raw material and money in hand. 1:Raw materials are required for the production. 2:Also money is required during production to buy other necessary items.
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