Factory buildings, machinery and raw materials are known in Economics as
Question 1 Report
Factory buildings, machinery and raw materials are known in Economics as
Answer Details
In Economics, factory buildings, machinery and raw materials are known as business wealth. Business wealth refers to the assets owned by a business that are used to produce goods or services for sale. These assets include tangible assets such as buildings, machinery, and equipment, as well as intangible assets such as patents and trademarks. Business wealth is important for the growth and success of a business, as it allows the business to produce goods or services efficiently and effectively, and to compete with other businesses in the market.
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