ECONOMICS
SCARCITY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Land
|
|
|
Labor
|
|
|
Capital
|
|
|
None of the above
|
Detailed explanation-1: -Labor is the effort people devote to tasks for which they are paid. Any human-made resource that is used to produce other goods and services. Physical capital is the human-made objects used to create other goods and services.
Detailed explanation-2: -Services. Work that one person performs for another for payment. Consumer. A person who buys goods or services for personal use.
Detailed explanation-3: -Labor is the amount of work laborers and workers perform that contributes to the production process. For example, if a laborer works and their efforts create a good or service, they contribute to labor resources.
Detailed explanation-4: -In economics, the term labour means human effort or activity which includes . SolveStudyTextbooksGuides.
Detailed explanation-5: -Labor resources include the work done by the waiter who brings your food at a local restaurant as well as the engineer who designed the bus that transports you to school. It includes an artist’s creation of a painting as well as the work of the pilot flying the airplane overhead.