Any long-lasting tool that people use to produce goods and services is called

Question

Quizplus · Accepted Answer

Capital refers to any long-lasting tool or asset that is used in the production of goods and services. This can include machinery, equipment, buildings, and other physical assets. Capital is essential for businesses to grow and expand their operations, and it is often a key factor in determining their overall success. Unlike labor, which refers to the human effort involved in producing goods and services, capital is a non-human input that can help to increase efficiency and productivity over time.

Any Long-Lasting Tool That People Use to Produce Goods and Services