state any four characteristics of capital as a factor of production
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ECONOMICS
What are the characteristics of capital?
December 26, 2019avatar
Sharleen Sarkar
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Characteristics of capital are:-
a) Man produces capital: Capital is needed for production. Capital is the result of human efforts.
b) Capital is a passive factor of production: Capital cannot produce without the active help of the labour.
c) Capital is the produced means of the production: Capital refers to the wealth which cannot be produced automatically. It is supplied because of the joint efforts of land and labour.
d) Capital depreciates: With the use of capital, the value of capital depreciates or loses its value.
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