mention 2 important characteristics of capital as factor of production
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The 2 important characteristics of capital as a capital of production are-
1) Capital is man-made. Thus, it is possible to increase the supply in needy situations.
2) It includes the usage of time as it provides its service over a period of time. eg. % per annum.
1) Capital is man-made. Thus, it is possible to increase the supply in needy situations.
2) It includes the usage of time as it provides its service over a period of time. eg. % per annum.
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Capital
Meaning, Characteristics, Function and Importance of Capital. But when we talk of capitalas a factor of production, it is quite wrong to confuse capital.It involves the element of time, as it renders its service over a period of time.Capital is that wealth which is used in the production of goods. Capital is the result of human labour. Thus, every type of capital such as roads, machines, buildings and factories etc. are produced by man. It is a produced factor of production.
Meaning, Characteristics, Function and Importance of Capital. But when we talk of capitalas a factor of production, it is quite wrong to confuse capital.It involves the element of time, as it renders its service over a period of time.Capital is that wealth which is used in the production of goods. Capital is the result of human labour. Thus, every type of capital such as roads, machines, buildings and factories etc. are produced by man. It is a produced factor of production.
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