eplain the term physical capital
Answers
Answer:
Physical capital refers to assets, such as building, machinery, and vehicles, which are owned and employed by an organisation. Physical capital constitutes one of the factors of production other than land and labour. The assets constitute fixed capital means that they are not consumed in the process of production.
Answer:
Physical capital is the variety of inputs required at every stage during production. ... The tools, machines, buildings which can be used in production over many years are called fixed capital. Working capital: Production requires a variety of raw materials.
or
Physical capital refers to assets, such as building, machinery, and vehicles, which are owned and employed by an organisation. Physical capital constitutes one of the factors of production other than land and labour. The assets constitute fixed capital means that they are not consumed in the process of production.