Why is labour considered the most abundant factor of production? 3 points 80 words
Answers
Explanation:
Among the three factors of production, we found that labour is the most abundant factor of production. There are many people who are willing to work as farm labourers in the villages, whereas the Opportunities of work are limited. ... Both these have led to increase in production of crops.
Answer:
Among the three factors of production, we found that labour is the most abundant factor of production. There are many people who are willing to work as farm labourers in the villages, whereas the Opportunities of work are limited. ... Both these have led to increase in production of crops
Labour is the most abundant factor of production because there are many people who are willing to work as farm labourers in the villages,whereas the opportunities of work are limited. they belong to either landless families or families cultivating small plots of land .
Human capital is the most important factor of production because you will need knowledge and enterprise to be able to put together land,labour and physical capital to produce an output either to use yourself or sell in the market.