I cant find an explanation that I understand
In: Economics
It’s anything that lets one make money. As I understand it’s another term similar to “capital” in economics but is applied to the big picture rather than specific things. Real estate, machines, trade secrets, trained personnel, basically all the parts of business or industry that you can use to create revenue. Various economic models differ in who should control the means of production and who should decide what to do with the value generated.
EDIT: Are the downvotes because I said “make money” instead of “producing goods and services”? Okay I suppose the term is a bit loaded to mean profits instead of abstracted value, but otherwise my answer isn’t all that different from the one above.
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