👉 Already-produced durable goods available for use as a factor of production, such as steam shovels (equipment) and office buildings (structures).
Alright class, settle down now, let’s talk about “capital,” you see! The dictionary gives us a clue, quite clear, About things that help us work, year after year. It says "already-produced," don't you know? These aren't brand new things, ready to go! They’ve been made before, sturdy and strong, Ready to play a part, where they belong. Think of a steam shovel , powerful and grand, Moving earth with force, across the land! Or maybe an office building , tall and bright, Where folks can work together, morning till night. These are examples – durable and true, Of things we call "capital," for me and for you! Capital is basically tools and places too, That help us produce more, it’s perfectly true! It's not the raw materials, like wood or grain, But what we do with them - again and again. Does that make sense to you? Any questions now? Let’s discuss!