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Question
A list of goods is given below. Stale whether it is fixed capital or circulating capital
- Machines
- Raw material
- Fuel
- Office furniture
Solution
Fixed capital and circulating capital
- Machines and office furniture are fixed capital which can be used again and again for further production. It is also known as the durable use of producer goods.
- Raw material and fuel are circulating capital which is used only once in production. It is also known as single-use producer goods.
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