¦Ò¦Ò§A¡G
ÃD¤@¡G®Ú¾Ú§A©Òª¾¡A¤U¦C¨º¨Ç¬O¸ê¥»
(capital)¡H(¥i¿ï¦h©ó¤@¶µ¡C)
(A) ¹A¦a
(B) ªº¤h
(C) ³Ò¤u
(D) ªoµe
(E) ŸȻ
(F) ¤f¤~
¦b¸gÀپǡA¥H¤W¦U¶µ³£¥iºÙ¬°¸ê¥»¡C½Ð¬Ý¤U¤å¤À¸Ñ¡C
¸ê¥»ªº©w¸q¡G©Ò¦³¥i©ó±N¨Ó±a¨Ó¦¬¤Jªºª««~³£¬O¸ê¥»¡C
¶Ç²Î¸gÀپǽҥ»¡A±N¥Í²£¦]¯À (factors of production) ¤À¦¨¥|Ãþ¡G
- ¤g¦a (land) ¡Ð¤ÑµM¸ê·½
- ¸ê¥» (capital) ¡Ð¤H³y¸ê·½
- §V¤O (labour)
- ¥ø·~®a¾¯à (entrepreneurship)
¶O¨F (Irving Fisher) ±N¸ê¥»³o´n©À¤@¯ë¤Æ¬°©Ò¦³¥i¦b±N¨Ó±a¨Ó¦¬¤Jªºª««~¡A°ò©ó³o©w¸q¡A¥H¤W¥|Ãþ¥Í²£¦]¯À¥þ¬O¸ê¥»¡C¦Ó³o©w¸q¹ï¸ÑÄÀ²{¶H¦³¦óÀ°§U¡A±N¥H«á¦A¸ÑÄÀ¡C
Capital Value (¸ê¥»È)
¥H¤U¬O¬Y¹q¸£©Ò¯à¦b±N¨Ó±a¨Óªº¦¬¤J (¥H¨C¦~¦~²×pºâ)¡A¦~§Q²v =10%¡G
²Ä¤@¦~
|
²Ä¤G¦~
|
²Ä¤T¦~
|
$300
|
$400
|
$500
¿é¤J´£¥Ü¡G
-
³Ñ = *
-
°£ = /
-
2 ªº 3 ¦¸¤è = T(2,3)
¦pn¿é¤J
1/1.1 + 200/1.13 ¡A½Ð¿é¤J 1/1.1
+ 1/T(1.1,3) ¡A¦p¦¹Ãþ±À¡A©ú¥Õ«K¶}©l¤F¡C
|
ÃD¤G¡GÁÙ°O±o«ç¼Ëpºâ§é²{ȶܡH¦Û¤v°Ê¤âp¤@p§a¡HµLp¼Æ¾÷ªº¸Ü¡A¥i±N¤½¦¡¿é¤J¥ª¤è¡C(ø°O±o¡A½Ð«ö¦¹¡C)
±N¸ê¥»¦b±N¨Ó©Ò±a¨Óªº¦¬¤J§é²{ (discounting)¡A±o¥Xªº§é²{ȩβ{¦bÈ«K¬O¡u¸ê¥»È¡v¡C²³æ¨Ó»¡¡A¸ê¥»È¬O¥«³õ¹w´Á¸Ó¹q¸£©Ò¯à±a¨Óªº°]´I¡C
Capital value is the discounted value of the
future income generated by the capital.
Econman (22 / 12/ 2000)