ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Definition: Wealth, as in money or property, owned, or accumulated by an individual, partnership, or corporation used or available for use in the production of more wealth. This includes all physical infrastructure (buildings, roads, machinery, etc.) used to produce goods and services.

Detailed explanation-2: -In addition, we can differentiate two broad types of human-made capital. One is the factories, buildings, tools, and other physical artifacts usually associated with the term “capital.” A second is the stock of education, skills, culture, and knowledge stored in human beings themselves.

Detailed explanation-3: -Capital resources include money to start a new business, tools, buildings, machinery, and any other goods people make to produce goods and provide services.

Detailed explanation-4: -The four major types of capital include working capital, debt, equity, and trading capital.

Detailed explanation-5: -Capital Resources refer to all the man-made assets that are used to manufacture goods. These resources include tools, machines, equipment, buildings, etc. Any tool or resource employed by a business in the production process of goods or services is termed as a capital resource.