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The production function takes the general form Y=f(K, L), where Y is the amount of output produced, K is the amount of capital stock used and L is the amount of labor used.
Justin Brown is a writer and artist living in Virginia. He channels most of his nonsensical enthusiasm into making things for his Etsy shop, Artness ! You can keep up to date with him, his worldly adventures, and his dogs by following him on Instagram. 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.While “intensive” is absolutely a word, the clichéd saying that most people are trying to channel is all about intent.As for the rumor that I, as a younger man, frequently employed the incorrect pronunciation… If there is a bigger red flag for “I am misinformed about how to pronounce something” in our language, I have yet to encounter it.