Which one of the following terms denotes the inputs in terms of tools, machines, buildings, raw materials and money in hand required at any stage of production ?
- A. Fixed capital
- B. Working capital
- C. Physical capital ✓
- D. Human capital
Correct Answer: C. Physical capital
Explanation
Physical capital is a broad category that encompasses all tangible, man-made factors of production, combining both fixed capital (buildings, tools) and working capital (raw materials, money).
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