it can be increased or decreased based upon demand
it can be increased or decreased based upon demand
Labor
it affects because labor is the main factor of production so that is to say no labor no production at all
Labor
Labor.
it can be increased or decreased based upon demand
Labor
Labor
it affects because labor is the main factor of production so that is to say no labor no production at all
labor
Labor
labor
Labor.
Is 4 cm considered active labor ?
Money is not a factor of production in economics because it is used as a way to facilitate trade, but does not actually produce goods or services on its own. Money is not considered a factor of production because it cannot be made into a good or service. It can only purchase them. Money facilitates trade, but it is not in itself a productive resource. A factor of production is an input to the production process, such as capital. Money is not capital as economists define capital, because it is not a productive resource.
It is difficult to determine one single most important factor of production as it can vary depending on the context. However, labor is often considered a critical factor as it involves human capital that drives innovation, productivity, and economic growth.
Labor (L)