Characteristics of capital as a factor of production

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Man made

Scarce factor

Both 1 & 2

None of them

answer is C.

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Detailed Solution

Characteristics of capital as a factor of production are manmade and scarce factors.
The broad meaning of capital includes a factory and its machinery, intellectual property like patents, or the financial assets of a business or individual. It may also apply to anything that benefits its owner. Capital may be defined as money itself, but it's more common to use the phrase to refer to cash employed for either investments or productive purposes. Money is crucial to a company's ongoing operations and the funding of its expansion. When making budgets, companies of all sizes frequently focus on working capital, equity capital, and debt capital.

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