What is fixed and working capital?Give definitions.
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FIXED CAPITAL: Tools , machines, buildings can be used in production over many years. These factors of production are called the fixed capital.
WORKING CAPITAL : These include the factors of production which are used up in production. Raw materials and money in hand are called the working capital.
WORKING CAPITAL : These include the factors of production which are used up in production. Raw materials and money in hand are called the working capital.
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