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Different Types of Capital

Level:
A-Level, IB Diploma
Board:
AQA, Edexcel, Eduqas, IB, OCR, WJEC

Last updated 13 Jul 2023

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In this short introductory video , we will look at two important types of capital as an economic resource.

Different Types of Capital

The economic problem involves decisions about how to make the best use of limited (scarce) resources when not all wants/needs can be fully satisfied.

These resources include land, labour, enterprise (or entrepreneurship) and capital.

Capital investment to an economist is not about saving money in a bank or purchasing shares/stocks - which the media likes to refer to as investment!

Investment is spending on new capital goods

Capital goods are man-made goods used to supply other products e.g. drones, new vehicles, bigger factories, hardware & the software to run it.

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