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Factors of Production — Economics STD 10 — Question

ICSE BoardEnglish MediumSTD 10EconomicsFactors of Production2 Marks
Question
Using examples classify capital into fixed and circulating capital.
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Answer

Fixed Capital: Fixed capital refers to those capital goods which can be used again and again in production. Examples: machinery, factory building.
Circulating Capital: In it, all those things are included which are used in production only once. Cotton and fuel are examples of circulation capital.

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