Question

definition of land labour physical capital

Answer 1

Physical capital, in economics, a factor of production. It is one of three primary building blocks (along with land and labour) that, in combination, can be used to produce goods and services. ... A country's physical capital, or capital stock, consists of fixed capital assets.



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Answer 2

Concept of Physical Capital

Land or property includes factories, manufacturing facilities, or warehouses. It also includes natural resources, such as ores extracted from mines in the case of the steel industry. Labour refers to the human resources employed by an organisation, including skilled and unskilled workers.