why capital is used in class 9th economics
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Capital is the money or resources that are used to start a business with. Capital is the resource that can be money in the form of cash or kind which is used to further purchase raw materials and inputs.
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It is used in the production process to enable the conversion of raw material into finished goods. Physical Capital is of two types: (i) Fixed Capital: The tools, machines, buildings which can be used in production over many years are called fixed capital.
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