economics
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| fixed capital | fixed assets in an economy ie) machinery, buildings
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| Working capital | finished, unfinished goods, raw materials which are in a companies stock
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| social capital | capital which belong to the general public ie) hospitals, roads, schools
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| gross capital formation | the total value of capital created in an economy in a country over a year
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| net capital | gross capital minus deprecaition
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| depreciation | using up capital due to machines wearing out or the using up of raw materials
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| capital widening | the increase of labour and capital in the business which keeps the labour: capital ratio the same
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| capital deepening | increasing the capital to labour ratio so that there is more capital than before. This means the business has become more capital intensive than labour intensive.
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| Factors affecting the level of saving | 1. Interest rates
2. Inflation
3. Expectations
4. DIRT- Deposit interest retention tax
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| factors affecting the level of investment | 1. government policy (subsidies and incentives)
2. infrastructure
3. Interest rates
4. Expectations
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| Factors affecting rates of interest | 1. Monetary policy of the ECB
2. Demand for loans
3. creditworthiness of the borrower
4. Type of loan
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| 2 ways to determine interest rates | 1. loanable funds theory / Classical theory
2. Liquidity preference (Keynes)
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| Liquidity preference motifs | 1. Transactions (inelastic)
2. Precautionary (relatively inelastic)
3. Speculative (elastic)
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