ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Capital goods are physical assets that a company uses in the production process to manufacture products and services that consumers will later use. Capital goods include buildings, machinery, equipment, vehicles, and tools. Capital goods are not finished goods, instead, they are used to make finished goods.

Detailed explanation-2: -In economics, factors of production are the resources people use to produce goods and services; they are the building blocks of the economy. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

Detailed explanation-3: -Capital Resources (capital goods) Goods made by people and used to produce other goods and services (machines and factories).

Detailed explanation-4: -Capital goods are the assets used by businesses in the course of producing their products and services, and can include buildings, machinery, tools and equipment. Capital resources is a higher-level concept, defined slightly differently by different scholars.