ECONOMICS
SCARCITY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Labor
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people with all their efforts and abilities
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individuals who start a new business or bring a product to market.
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the work students complete, or are supposed to complete, for Mrs. Vosika
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the work students complete, or are supposed to complete, for Mrs. Vosika
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Explanation:
Detailed explanation-1: -Labor-people with all their efforts, abilities, and skills.
Detailed explanation-2: -Labor. Labor is the human effort that can be applied to the production of goods and services. People who are employed or would like to be are considered part of the labor available to the economy. People who work to repair tires, pilot airplanes, teach children, or enforce laws are all part of the economy’s labor.
Detailed explanation-3: -The skills a worker has as a result of education, training, or experience that can be used in production are called human capital.
Detailed explanation-4: -The four types of labor in economics are skilled, unskilled, semi-skilled, and professional.
There is 1 question to complete.