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What best describes what labor directly to production?
human effort and ideas drive production
Which factor of production directly concerns the actions of workers?
Labor
What best describes what labor directly contributes to production?
human effort and ideas drive production
What does labor contribute to production?
Depends. If: Robots are your workers: not a lot directly, but the labour required for maintainance is quite important. Humans are your workers: Most of it. Motivation of said workers contributes the rest.
Is carpenter one of the 4 factors of production?
No, a carpenter is not one of the four factors of production; rather, they represent human labor. The four factors of production are land, labor, capital, and entrepreneurship. Labor encompasses the skills and efforts of individuals, such as carpenters, who contribute to the production process.
What labor directly contributes to production?
Human effort and ideas drive production
What best describes what labor directly to production?
human effort and ideas drive production
Which factor of production directly concerns the actions of workers?
Labor
What best describes what labor directly contributes to production?
human effort and ideas drive production
What does labor contribute to production?
Depends. If: Robots are your workers: not a lot directly, but the labour required for maintainance is quite important. Humans are your workers: Most of it. Motivation of said workers contributes the rest.
Short note on direct labor?
direct labor is that labor which directly involve in production of goods of product and separately identifiable with cost.
What is the difference between 'direct labor' and 'indirect labor'?
Direct Labor: it is the type of labor which is directly related with the manufacturing of product in factory Like people directly working on machines for production of goods. Indirect Labor: it is the type of labor which is labor in nature but do not directly relate with the production of goods or without which the product can still be made like Supervisor in factory who supervise the workers working on machines to produce any product.
Is carpenter one of the 4 factors of production?
No, a carpenter is not one of the four factors of production; rather, they represent human labor. The four factors of production are land, labor, capital, and entrepreneurship. Labor encompasses the skills and efforts of individuals, such as carpenters, who contribute to the production process.
Who is labor?
The factory workers who directly involve in production of goods is direct labor which cost is also separately identifiable.
Briefly explain the 3 basic elements of costs?
The three basic elements of costs are direct materials, direct labor, and overhead. Direct materials refer to the supplies used in production, direct labor refers to the cost of labor directly involved in production, and overhead encompasses all other production costs not directly tied to materials or labor.
What do the engineers who designed the capital goods such as Machinery contribute to the production process?
intellectual labor
What do the engineers who design the capital goods such as machinery contribute to the production process?
intellectual labor
