Question

Labour is a ............. input in production. Fill in the blank.

Answer 1

Answer:

Labour is a human input in production.

Explanation:

Labour refers to any input by the mental or physical work done by the human beings in production.

The main input in production include:

1) Capital

2) Labour

3) Land

These three factors are the main factors of input in production. These are the factors which when put together provides us with an output.

Answer 2

Labour is a human input in a production.

Explanation:

• The 4 factors of production are inputs that are utilized in several combinations for the ‘production of goods’ and services to make an economic profit.  

• The ‘factors of production’ are labour, capital, land, and entrepreneurship. These inputs are needed for supply.  

• They are natural or land resources, labour, capital and entrepreneurship. Labour, as a ‘factor of production’, involves any human input.  

• The ‘quality of labour’ depends on the workforce’s education, skills, and motivation.