Examlex
Compulsory Liability Insurance laws are designed to:
Replacement Investment
Expenditures made to replace worn-out or outdated capital goods to maintain productive capacity.
Gross Investment
The total amount of investment in capital goods in an economy over a specific period, not accounting for depreciation.
Depreciation
A reduction in the value of an asset over time due to wear and tear or obsolescence.
Net Investment
The net expenditure on acquiring new capital assets after deducting the depreciation of the present capital assets.
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