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Consider the following statements
1. Tools, machines, buildings used in production of goods over many years are called working capital.
2. Raw materials and money in hand used in the production of goods are called fixed capital.
Choose the correct statements using the codes given below
1 only
2 only
both 1 and 2
neither 1 nor 2
• Tools, machines, buildings that are used in production of goods over many years are called fixed capital • Raw materials and money in hand are called working capital • Both fixed capital and working capital are called physical capital
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