In economics, what is meant by the term "labor"?
A. Machines used in factories
B. Raw materials like wood or water
C. People and their skills used to produce goods and services
D. Money used to pay employees

Question

MaximoRykei · Answer

The correct answer is letter C. Labor refers to human effort used in production, including physical work and skills. It includes unskilled, skilled, and professional workers.

In economics, what is meant by the term "labor"? A. Machines used in factories B. Raw materials like wood or water C. People and their skills used to produce goods and services D. Money used to pay employees

Answer (1)

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In economics, what is meant by the term "labor"?
A. Machines used in factories
B. Raw materials like wood or water
C. People and their skills used to produce goods and services
D. Money used to pay employees

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