ICSE Class X Economics 2020 Solved Papers

© examsnet.com
Question : 5
Total: 36
Define the term capital as a factor of production.
Solution:  
Capital as a factor of prouction refers to the produced means of production. It is the all those man-made goods which are used in further production of wealth. Thus, capital includes all those goods which are used as factor input for further production.
© examsnet.com
Go to Question: