ECONOMICS (CBSE/UGC NET)

ECONOMICS

PRODUCTIVE RESOURCES

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Any goods used to produce goods and services:
A
human resources
B
capital goods
C
natural resources
D
entrepreneurship
Explanation: 

Detailed explanation-1: -Capital goods are man-made, durable items that businesses use to produce goods and services. Tools, machinery, buildings, vehicles, computers, and construction equipment are types of capital goods. Capital goods are one of the four leading economic factors.

Detailed explanation-2: -Capital goods are assets used in a business’s production process to create a consumable product or provide a service. Capital goods are important because, without them, businesses wouldn’t be able to function.

Detailed explanation-3: -Capital goods are the assets used by companies and manufacturers in the process of production. Capital stock, on the other hand, refers to the total physical capital available in a company (in the form of plant, property, equipment, machinery, etc.).

Detailed explanation-4: -Capital goods are tangible assets a company needs for manufacturing products that will later be sold to customers. They entail tools, buildings, equipment, or the machinery necessary to make final products.

Detailed explanation-5: -Single-use Producer Goods-Goods which are used as raw material like wood, used to make furniture. Capital Goods-Goods which are used as fixed assets like plant and machinery.

There is 1 question to complete.