Which of the following is not an example of fixed capital?

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Land

Labor

Machinery

Human

answer is D.

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Detailed Solution

Human is not an example of fixed capital.
Land, labour, and Machinery are examples of physical capital. Physical and human capital are not the same thing. Physical capital is tangible in nature, which means it can be touched and seen, while human capital is intangible, which means we can not feel or see it. Physical capital is separable, and we can sell it, while human capital is inseparable from the owner. It is only the services that the owner can sell. The former is mobile and can move freely internationally, while the latter is hardly mobile and restricted by nationality. The former creates only private benefits. The person holding the physical capital becomes wealthy. The latter brings both personal and social benefits.

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