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Differentiate between: Capital and income - Economic Applications

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Question

Differentiate between:

Capital and income

Distinguish Between

Solution

Capital is a means and its end is income. The business organisation that a man owns is his capital but the amount of profit that he makes out of it is his income. Therefore, capital is a fund or stock, while income is a flow.

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Chapter 1: Factors of Production - Exercise [Page 32]

APPEARS IN

Goyal Brothers Prakashan Economics [English] Class 10 ICSE
Chapter 1 Factors of Production
Exercise | Q 16. (b) (ii) | Page 32
Goyal Brothers Prakashan Economic Application [English] Class 10 ICSE
Chapter 4 Factors of Production
QUESTIONS | Q 21. (b) (ii) | Page 118

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