Capital services
Encyclopedia
In economics
, capital services refer to a chain-type index of service flows derived from the stock of physical assets and software. These assets are coordination, equipment, software, structures, land, and inventories. Capital services are estimated as a capital-income weighted average of the growth rates of each asset. Capital services differ from capital stocks because short-lived assets such as equipment and software provide more services per unit of stock than long-lived assets such as land. Unlike capital goods, capital services are owned by the person or group of people providing them.
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
, capital services refer to a chain-type index of service flows derived from the stock of physical assets and software. These assets are coordination, equipment, software, structures, land, and inventories. Capital services are estimated as a capital-income weighted average of the growth rates of each asset. Capital services differ from capital stocks because short-lived assets such as equipment and software provide more services per unit of stock than long-lived assets such as land. Unlike capital goods, capital services are owned by the person or group of people providing them.
See also
- Capital goods
- Capital stocks
- Bureau of Labor StatisticsBureau of Labor StatisticsThe Bureau of Labor Statistics is a unit of the United States Department of Labor. It is the principal fact-finding agency for the U.S. government in the broad field of labor economics and statistics. The BLS is a governmental statistical agency that collects, processes, analyzes, and...
- Progressive theory of capitalProgressive theory of capitalThe progressive theory of capital is an economic theory posited by Léon Walras in 1874 in part 5 of his book Elements of Pure Economics.-See also:* Capital * Capital goods* Capital services* Capital stocks* Walras-Cassel System...
External links
- Capital services in glossary, U.S. Bureau of Labor Statistics Division of Information Services
- Capital Goods and Services, University of North CarolinaUniversity of North CarolinaChartered in 1789, the University of North Carolina was one of the first public universities in the United States and the only one to graduate students in the eighteenth century...
- Walras's Progressive Theory of Capital