In economics, physical capital or just capital is a factor of production (or input into the process of production), consisting of machinery, buildings, computers, and the like. The production function takes the general form Y=f(K, L), where Y is the amount of output produced, K is the amount of capital stock used and L is the amount of labor used. In economic theory, physical capital is one of the three primary factors of production, also known as inputs in the production function.
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The others are natural resources (including land), and labor — the stock of competences embodied in the labor force. Download Max & Co Online. Physical" is used to distinguish physical capital from human capital (a result of investment in the human agent)), circulating capital, and financial capital.[1][2] "Physical capital" is fixed capital, any kind of real physical asset that is not used up in the production of a product. Usually the value of land is not included in physical capital as it is not a reproducible product of human activity. В©2. 01. 7, Capital.
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