Question

Hello

Here are few questions from economics

1) What is the meaning of capital in economics? There are physical capital, human capitals, natural resources per worker, technological resources. What is the factor of production? Please provide examples

2) How can you produce capital? What is the meaning of accumulation of capital?
Please provide example

3) What is the difference between consumption goods and capital goods? Please provide an example of each

4)What are the diminishing returns? Please provide example

Answer 1

1) LAnd, Labour, Capital, Organization. economic resources used in the production process these resources also known as factors of production.

The term capital is used in the broader sense also physical, economic, human capital is considered as capital because it used indirectly and indirectly in the production process.

2) The capital is man-made factors the supply of the capital increase by accumulating or increasing the productivity example if money invested in the bank earns interest rate, similarly human capital increased by training labors and thus the supply of capital increased over the period.

3) The consumption goods are those goods used in daily usage example Bread, Fruits

The capital goods are those which used in production process machines, technology etc.

40 The diminishing marginal return refers to by employing additional units of the variable factors result decreasing the output.