FACTORS OF PRODUCTION – CAPITAL
Meaning of Capital (Money)
Capital refers to all man-made productive assets which are used in production e.g. hoes, plough, farm building, cash etc. Capital are also assets made by man to enable him to produce goods and services.
Characteristics of Capital
The following are the characteristics of capital:
- Capital can appreciate and depreciate.
- Some are mobile e.g. tractor
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