As a factor of production, what does the term labor mean?

2 answers:

alexandr1967 [171]2 years ago

6 0

Factors of production is an economic term that describes the inputs used in the production of goods or services in order to make an economic profit. ... The factors of production include land, labor, capital and entrepreneurship.

NeX [460]2 years ago

3 0

Answer:

The political economists such as David Ricardo and Karl Marx used to consider land, labor and capital as the factors of production. Its modern definition was derived from the neoclassical views, it considers capital and labor as the factor of production. Labor is the effort made by a person for bringing a service or product to the market. A waiter and a construction worker, are the examples of labor. Labor done by untrained and uneducated workers are paid less as compared to the labor of a trained and educated person.

You might be interested in

PLEASE HELP MEEEEEEEEEEEEEE

Ber [7]

Answer:

The King would have power over everyone in the fuedal system. They would provide land to the nobles. The nobles then pay knights to protect the land. In exchange for protection from the knights, the peasants are obligated to cultivate, grow crops, and give a portition of their produce to the nobles.

Explanation:

A fuedal system is a system where the King divides up his land and gives them to the nobles to grow. The nobles will use their own money to grow these lands. They do this by hiring/paying people of the lower class to do it. Though the peasants are necessary hired, more obligated.

3 0

2 years ago

Define executive privilege in kid terms.

attashe74 [19]

the privilege, claimed by the president for the executive branch of the US government, of withholding information in the public interest.

6 0

3 years ago

Read 2 more answers

Describe any effects of climate change that you have noticed where you live. If you haven’t yet noticed any effects of climate c

vovangra [49]

Answer:

it usally snows in december where i live but this year it only snowed a little then started snowing a week ago

Explanation:

4 0

3 years ago

What was the crucial innovation that defined the recognition-by-components (rbc) model?

Igoryamba

A transitional level of indicators delicate to "geons." Viewpoint autonomous in the RBC demonstrate, geons can be distinguished from for all intents and purposes any edge of view, thus acknowledgment in light of geons is - ; regardless of what your position is in respect to a feline, you can distinguish its geons and in this way recognize the feline; can perceive a protest regardless of the possibility that numerous geons are avoided see.

5 0

3 years ago

_____________ who score high on the need for power tend to be more impulsive and aggressive.

zhuklara [117]

People who score high on the need for power tend to be more impulsive and aggressive.

The motive approach towards the study of personality classifies people according to their predominant motives for doing things. It assumes that behaviors are underpinned by certain needs, and these needs differ from one person to the other.

People driven by the need for power tend to be more impulsive and aggressive. They aim for positions of influence, for prestige, and to be ahead of those around them. They place importance on status and position.

Other types of motivation include the need for affiliation (social relationships), the need for achievement (to attain goals and overcome obstacles), and the need for intimacy (warm and close relationships).

To learn more about impulsive and aggressive behavior: brainly.com/question/6104165

#SPJ4

8 0

1 year ago