ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Examples of capital-intensive industries include automobile manufacturing, oil production, and refining, steel production, telecommunications, and transportation sectors (e.g., railways and airlines). All these industries require massive amounts of capital expenditures.

Detailed explanation-2: -Capital is a broad term that can describe anything that confers value or benefit to its owners, such as a factory and its machinery, intellectual property like patents, or the financial assets of a business or an individual.

Detailed explanation-3: -The answer is 1. Manufactured capital. Manufactured capital refers to fixed assets or material goods that are used in the production process, including the buildings, machinery, sanitation systems, transportation networks, and factories.

Detailed explanation-4: -Capital as a factor of production refers to capital goods, or man-made resources, such as tools and infrastructure, used in the production of a good or service.

Detailed explanation-5: -Land refers to natural resources, labor refers to work effort, and capital is anything made that is used to make something else. The last resource, entrepreneurship, refers to the ability to put the other three resources together to create value.