Social Sciences, asked by goutambhati, 1 year ago

different between capital or labour

Answers

Answered by akshimudgal1

capital is the money or investment required for any profession or work .
labour is the group of man which is required for any work in any profession .

Manojsharma1: It may be measured in terms of manhours or number of people. Labour is the aggregate of all human physical and mental effort used in creation of goods and services. Capital does not only include cash, but also physical equipment and machinery needed to produce. ... In broader use, it often refers to financial capital.

Answered by Anonymous

HEY THERE!

⊕ LABOUR:
It is the amount of work needed to produce a good or service.

⊕ CAPITAL:
It includes cash, but also physical equipment and machinery needed to produce.

Differences:

i. The measurement unit of labour is personal or in time. The measurement unit of capital is generally monetary.

ii. The return on labour to the owners of labour is the wage rate. The return on capital to the owners of capital is the interest rate.

HOPE IT HELPED ^_^

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