Question

What is labor in economics? A. Labor is not considered a part of economics. B. Labor is one of the three resources of production, like land or capital. C. Labor is affected by economics, but is outside economic theory. D. Labor is the only real resource of production.

Answer 1

Answer:

B. Labor is one of the three resources of production, like land or capital.

Explanation:

The factors of production are the goods or services that are used to produce more goods or services. The production factors currently tend to be: land (natural resources), work (time that people spend on production), capital (durable goods used to manufacture other goods or services) and technology (knowledge and applied techniques that allow the modification of the The last factor was recently included).