Raw material and money in hand are called ____.

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Detailed Solution

Raw materials and money in hand are called working capital. Working capital is a form of physical capital required for production. It includes the capital needed for carrying out daily operations in the production process. It contains the raw materials and money in hand. It also consists of the wages of labourers, the cost of amenities like electricity, rent on buildings or offices, and other factors. These expenses are short-term and small in amount compared to fixed capital. Along with working capital, physical capital also includes fixed capital.

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