Explain the following terms :- 1. Capital
2. Fixed capital
3. Green revolution
4. Service
5. Raw material
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Answers
Capital - Capital is a term for financial assets, such as funds held in deposit accounts and/or funds obtained from special financing sources. Capital can also be associated with capital assets of a company that requires significant amounts of capital to finance or expand.
Fixed Capital - Fixed capital is the portion of total capital outlay of a business invested in physical assets such as factories, vehicles, and machinery that stay in the business almost permanently, or, more technically, for more than one accounting period.
Green revolution - The great increase in production of food grains (such as rice and wheat) due to the introduction of high-yielding varieties, to the use of pesticides, and to better management techniques.
Service - “A service is a means of delivering value to customers by facilitating outcomes customers want to achieve without the ownership of specific costs and risks.”
Raw material - A raw material, also known as a feedstock, unprocessed material, or primary commodity, is a basic material that is used to produce goods, finished products, energy, or intermediate materials that are feedstock for future finished products.
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