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Usually the value of land is not included in physical capital as it is not a reproducible product of human activity. Home Adam smith capital asset depreciation durable economics s non-renewable resource physical capital production service stock.


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In economic theory, physical capital is one of the three primary factors of production, also known as inputs in the production function.

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The others are natural resources including land , and labor — the stock of competences embodied in the labor force.

In economic theory, physical capital is one of the three primary factors of production, also known as inputs in the production function. Usually the value of land is not included in physical capital as it is not a reproducible product of human activity. The others are natural resources including land , and labor — the stock of competences embodied in the labor force.

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In economic theory, physical capital is one of the three primary factors of production, also known as inputs in the production function. Home Adam smith capital asset depreciation durable economics s non-renewable resource physical capital production service stock. Usually the value of land is not included in physical capital as it is not a reproducible product of human activity. In economics, physical capital or just capital is a factor of production or input into the process of production , consisting of machinery, buildings, computers, and the like. The others are natural resources including land , and labor — the stock of competences embodied in the labor force.
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