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In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a ...
Cambridge capital controversy; Portal:Capitalism/Selected quote; Portal:Capitalism/Selected quote/56; Capital (Marxism) Capital accumulation; Capital flight; Capital formation; Capital good; Capital intensity; Capital outflow; Capital services; Capital strike; Circulating capital; Constant and variable capital; Consumption of fixed capital ...
Physical capital represents in economics one of the three primary factors of production. Physical capital is the apparatus used to produce a good and services. Physical capital represents the tangible man-made goods that help and support the production. Inventory, cash, equipment or real estate are all examples of physical capital.
The economic history of the United States spans the colonial era through the 21st century. The initial settlements depended on agriculture and hunting/trapping, later adding international trade, manufacturing, and finally, services, to the point where agriculture represented less than 2% of GDP .
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
[62] [63] Economist Radhika Desai, while concurring that 1914 was the peak of the capitalist system, argues that the neoliberal reforms that were intended to restore capitalism to its primacy have instead bequeathed to the world increased inequalities, divided societies, economic crises and misery and a lack of meaningful politics, along with ...
The most recent alterations in national accounts standards mean that capital measures and many other measures are no longer fully comparable with the data of the past, except where the old data series have been revised to align them with the new concepts and definitions. US government statisticians have admitted frankly that "Unfortunately, the ...
Economics can be described as all of the following: Academic discipline – body of knowledge given to, or received by, a disciple (); a branch or sphere of knowledge, or field of study, that an individual has chosen to specialize in.