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What best explains the role that labor has in the production of goods and services?
Wiki User
∙ 8y ago
Land,labor, and capital are all resources of production necessary to produce goods and services.
Wiki User
∙ 8y ago
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Which statement BEST explains the role that labor has in the production of goods and services?
land,labor, and capital are all resources of production necessary to produce goods and services
How is labor defined?
Labor is the general category of the human effort that is used for the production of goods and services.
What consist of separating the production of goods and services into smaller tasks?
division of labor
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
What is the difference between the revenue that a business gets for its goods and services and the cost of producing the goods and services?
Labor
Which statement BEST explains the role that labor has in the production of goods and services?
land,labor, and capital are all resources of production necessary to produce goods and services
___________ is the driving force behind the production of goods and services.?
Labor
Goods prouduced for the pupose of making other goods and services are called?
The hiring of labor power only results in the production of goods or services.
How is labor defined?
Labor is the general category of the human effort that is used for the production of goods and services.
What consist of separating the production of goods and services into smaller tasks?
division of labor
What are three factors of production?
Factors of production are the resources used in producing goods and services. The three factors of production are land, capital and labor.
What is the definition of goods and services in geography?
Goods,services is the definition of "Economic Activity" which is the production of goods,services,labor,ect. So basically it is vice versa. Goods and service is'nt a definition is Geography, but is the definition of a geography term. Which is Economic activity.
What is labor production?
it is yellow
What is the difference between the revenue that a business gets for its goods and services and the cost of producing the goods and services?
Labor
What is last factor of production?
The factors of production are resources that are the building blocks of any economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, entrepreneurship and IT.
What Labor operates capital to create?
goods and services.
According to Karl Marx the source of all value was?
According to Karl Marx, the source of all value was the labor that is expended in the production of goods and services. He believed that the value of a commodity is determined by the amount of socially necessary labor time required to produce it. This concept is known as the labor theory of value.
