What is the term for production inputs that consist of technology, tools, and physical facilities?

Study for the UofT MGT100 Fundamentals of Management Exam. Practice with quizzes and detailed study materials to excel. Prepare with clear explanations and valuable tips to ace your exam!

The term that refers to production inputs including technology, tools, and physical facilities is capital. In the context of production and economics, capital specifically denotes the tangible assets and resources that are utilized in the creation of goods and services. This encompasses machinery, equipment, buildings, and any physical infrastructure that aids in the production process.

Understanding capital is essential for grasping how businesses invest in and utilize their resources to enhance productivity and efficiency. In contrast, labor refers to the human effort that goes into production, while resources is a broader concept that can include both labor and capital. Assets generally refer to any owned resources that provide future economic benefits, but capital specifically focuses on those inputs used directly in production activities. Thus, capital is an accurate representation of the inputs described in the question.

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