[[1]] is the input that is used at various stages of the production of goods and services.

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Detailed Solution

Physical capital is the input that is used at various stages of the production of goods and services.
Refers to the various inputs required at each stage of production. The two types of physical capital are fixed capital and working capital. Fixed capital refers to assets that may be used in the production process for an extended period, such as factory equipment, buildings, tools, etc. Working capital includes cash on hand, raw materials that will be converted into completed commodities, and funds. Working capital includes the raw materials that will be processed into completed goods and the cash on hand required to purchase raw materials or any other items throughout production.

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