What are capital goods? What is the focus of capital goods?
Capital goods are durable goods that are used in the production process to produce other goods and services. They are often referred to as means of production or inputs to the production process. Examples of capital goods include machinery, equipment, tools, buildings, and infrastructure.
The focus of capital goods is to enhance productivity and efficiency in the production process. They are intended to improve the quality and quantity of production, reduce costs, and increase overall economic output. Capital goods enable businesses to produce more goods or services in less time, with less effort, and with higher precision. By investing in capital goods, businesses aim to increase their competitiveness and profitability in the market.