write any four characteristic of capital as a factor of production
Answers
Answer:
(i) Capital is man-made. It is, therefore, possible to increase its supply when the situation requires.
(ii) It involves the element of time, as it renders its service over a period of time. That is why payment for capital is calculated in terms of so much per cent per annum.
(iii) The use of capital makes roundabout methods of production possible. Its application increases efficiency and the productive power of all the factors with which it is combined and used.
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Answer:
Capital is an artificial factor of production.
1.Capital is a Passive Factor of Production
2. Capital is required on every stage of production, right from the acquisition of raw materials until the marketing of the finished goods in the marketplace.
3. Fixed capital and working capital are the two types of capital
4. The capital needed can be mobilized by practicing one’s own proceeds or from borrowings from money lenders or banks.
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