In economics and sociology, the means of production (also called capital goods or productive property) are physical and non-financial inputs used in the production of goods and services with economic value. These include raw materials, facilities, machinery and tools used in the production of goods and services. The means of production of the firm may depreciate, which means there is a loss in the economic value of capital goods or tangible assets (e.g machinery, factory equipment) due to wear and tear, and aging. This is known as the depreciation of capital goods.