Question

Explain how labour and capital are useful for production?

Answer 1

Answer:

Labour is the fundamental and active factor of production Labour has important contribution to the production of commodities. ... The supply of Labour cannot quickly adjust to the change in demand. The wages sometimes rule higher and at other times lower than need be.

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Answer 2

hey mate

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Labour are both skilled and unskilled and it also pays a vital role in production. but,human capital is superior than any other capital as land labour and physical capital cannot be useful on their own whereas human capital of resource makes use of these factors for production.

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