If you track the cash to the first worker, then are all costs eventually labour costs?

If you track the cash to the first worker, then are all costs eventually labour costs?
by

1 Answer

Answer :

It depends upon the product. Raw materials can be a significant portion of the cost certain items. For something made of stainless steel, or precious metals the labor can be almost insignificant. Software costs are almost all labor.
by

Related questions

Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) Economic rent is the difference between the market wage and the reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Description : Which of the following statements is correct? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Last Answer : (3) Economic rent is the difference between the market wage and the reservation wage. Explanation: The difference between the actual market wage and the reservation wage is called economic rent. Therefore ... per-son becomes unemployed (The Goals of Macroeconomic Policy by Martin Prachowny. p. 58).

Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) Economic rent is the difference between the market wage and the reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market.

Description : Which of the following statements is correct ? (1) Most workers will work for less than their reservation wage. (2) The reservation wage is the maximum amount any firm will pay for a worker. (3) ... reservation wage. (4) Economic rent is the amount one must pay to enter a desirable labour market. 

Last Answer :  Economic rent is the difference between the market wage and the reservation wage.

Explain with examples how an average worker in mid-nineteenth century was not a machine operator but a traditional craftsperson and labour. -SST 10th

Description : Explain with examples how an average worker in mid-nineteenth century was not a machine operator but a traditional craftsperson and labour. -SST 10th

Last Answer : The most dynamic industries in Britain were cotton and metals. But these industries did not displace traditional industries. Even at the end of 19th century only 20% of the total workforce was ... a typical worker in the mid-19th century was not a machine operator but a traditional craftsperson.

How did the abundance of labour in the market affect the lives of worker in Britain during the 19th century? -SST 10th

Description : How did the abundance of labour in the market affect the lives of worker in Britain during the 19th century? -SST 10th

Last Answer : Abundance of labour in the market affected the lives of the workers in Britain in following ways: (i) The work available in most of the industries were seasonal. So workers had long period ... value of what the workers earned fell significantly, since the same wages could now buy fewer things.

Some organizations have escalator clause in their labour agreements. What does this clause provide for ? (A) Automatic increase in wage/salary depending on seniority (B) Wage increase depending on output per day by the worker (C) Automatic increase in wage/salary depending upon increase in price index (D) Automatic increase in wage/salary depending on increase in profits of the firm

Description : Some organizations have escalator clause in their labour agreements. What does this clause provide for ? (A) Automatic increase in wage/salary depending on seniority (B) Wage increase depending on output ... index (D) Automatic increase in wage/salary depending on increase in profits of the firm

Last Answer : Answer: Automatic increase in wage/salary depending on increase in profits of the firm

Which of the following is not an avoidable cause of labour turnover: (a) Dissatisfaction with Job (b) Lack of training facilities (c) Low wages and allowances (d) Disability, making a worker unfit for work

Description : Which of the following is not an avoidable cause of labour turnover: (a) Dissatisfaction with Job (b) Lack of training facilities (c) Low wages and allowances (d) Disability, making a worker unfit for work

Last Answer : (d) Disability, making a worker unfit for work

In present times, the prestige level of teachers is recognized by the general public as Options: A) Above that of professional worker B) On a par with the professional class of workers C) On a par with the wage earner or labour D) Somewhere between wage earner and professional worker

Description : In present times, the prestige level of teachers is recognized by the general public as Options: A) Above that of professional worker B) On a par with the professional class of workers C) On a par with the wage earner or labour D) Somewhere between wage earner and professional worker

Last Answer : D) Somewhere between wage earner and professional worker 

How do companies keep track of what their one of a kind, highly skilled worker is doing?

Description : How do companies keep track of what their one of a kind, highly skilled worker is doing?

Last Answer : The outcomes they produce, together with periodic reports and discussions.

If capital is available in large proportion and labour is less then the economy is known as (a) Labour intensive country (b) Capital intensive country. © Both (a) and (b). (d) None of the above.

Description : If capital is available in large proportion and labour is less then the economy is known as (a) Labour intensive country (b) Capital intensive country. © Both (a) and (b). (d) None of the above.

Last Answer : (b) Capital intensive country.

Which of the following IS NOT one of the advantages associated with a robotics implementation program? a) Low costs for hardware and software b) Robots work continuously around the clock c) Quality of manufactured goods can be improved d) Reduced company cost for worker fringe benefits

Description : Which of the following IS NOT one of the advantages associated with a robotics implementation program? a) Low costs for hardware and software b) Robots work continuously around the clock c) Quality of manufactured goods can be improved d) Reduced company cost for worker fringe benefits

Last Answer : a) Low costs for hardware and software

Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and software B : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Description : Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and software B : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Last Answer : A : Low costs for hardware and software

Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and software B : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Description : Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and software B : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Last Answer : A : Low costs for hardware and software

Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and software B : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Description : Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and software B : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Last Answer : A : Low costs for hardware and software

Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and software B : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Description : Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and software B : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Last Answer : A : Low costs for hardware and software

Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and softwareB : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Description : Which of the following is NOT one of the advantages associated with a robotics implementation program? A : Low costs for hardware and softwareB : Robots work continuously around the clock C : Quality of manufactured goods can be improved D : Reduced company cost for worker fringe benefits

Last Answer : A : Low costs for hardware and software

Direct costs component of the fixed capital consists of (A) Contingencies (B) Onsite and offsite costs (C) Labour costs (D) Raw material costs

Description : Direct costs component of the fixed capital consists of (A) Contingencies (B) Onsite and offsite costs (C) Labour costs (D) Raw material costs

Last Answer : (B) Onsite and offsite costs

A contractor wishes to determine a suitable combination of manual labour and machine work for the excavation of a multistory construction. For every cum of excavation, 3 man-hours are needed; or 0.2 machine-hour. Costs involved are Rs. 20 per man-hour and Rs. 500 per machine-hour. The total quantity of excavation is estimated to be 4,000 cum. The optimal quantity of excavation to be done manually for minimum total cost will be (a) 1500 cum (b) 1800 cum (c) 2250 cum (d) 2500 cum

Description : A contractor wishes to determine a suitable combination of manual labour and machine work for the excavation of a multistory construction. For every cum of excavation, 3 man-hours are needed; or 0.2 machine-hour. Costs ... total cost will be (a) 1500 cum (b) 1800 cum (c) 2250 cum (d) 2500 cum

Last Answer : (d) 2500 cum

Factors Factors affecting affecting location location decisions decisions include include a)Proximity to markets, proximity to suppliers, proximity to athletic facilities b)Site costs, transportation availability, labour availability c)Average age of labour force, labour costs, and number of females in college d)Utility costs, zoning, altitude of city e)All of the above

Description : Factors Factors affecting affecting location location decisions decisions include include a)Proximity to markets, proximity to suppliers, proximity to athletic facilities b)Site costs, transportation availability, labour ... in college d)Utility costs, zoning, altitude of city e)All of the above

Last Answer : e)All of the above

Which of the following statements is/are correct? 1. A materials requisition note is used to record the issue of direct material to a specific job. 2. A typical job cost will contain actual costs for material, labour and production overheads, and non –production overheads are often added as a percentage of total production cost 3. The job costing method can be applied in costing batches (a) (1) only (b) (1) and (2) only (c) (1) and (3) only (d) (2) and (3) only

Description : Which of the following statements is/are correct? 1. A materials requisition note is used to record the issue of direct material to a specific job. 2. A typical job cost will contain actual costs for material, labour and production ... 1) and (2) only (c) (1) and (3) only (d) (2) and (3) only

Last Answer : (c) (1) and (3) only

Costs associated with the labour turnover can be categorised into: (a) Preventive Costs only (b) Replacement costs only (c) Both of the above (d) Machine costs

Description : Costs associated with the labour turnover can be categorised into: (a) Preventive Costs only (b) Replacement costs only (c) Both of the above (d) Machine costs

Last Answer : (c) Both of the above

Cost of inventories includes A. Direct Material + Direct Expenses B. Direct Labour + Direct Expenses C. All costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition D. Direct material only

Description : Cost of inventories includes A. Direct Material + Direct Expenses B. Direct Labour + Direct Expenses C. All costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition D. Direct material only

Last Answer : C. All costs of purchase, cost of conversion and other costs incurred in bringing the inventories to their present location and condition

Marginal cost is computed as A. Prime cost + All Variable overheads B. Direct material + Direct labour + Direct Expenses + All variable overheads C. Total costs – All fixed overheads D. All of the above

Description : Marginal cost is computed as A. Prime cost + All Variable overheads B. Direct material + Direct labour + Direct Expenses + All variable overheads C. Total costs – All fixed overheads D. All of the above

Last Answer : A. Prime cost + All Variable overheads

If an industry is characterized by economies of scale then - (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) capital requirement are small due to the efficiency of the large scale operation (4) the costs of entry into the market are likely to be substantial

Description : If an industry is characterized by economies of scale then - (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) ... of the large scale operation (4) the costs of entry into the market are likely to be substantial

Last Answer : (2) long run unit costs of production decreases as the quantity the firm produces increases Explanation: In microeconomics, economies of scale are the cost advantages that an enterprise obtains due to expansion ... in unit cost as the size of a facility and the usage levels of other inputs increase.

If an industry is characterised by economies of scale then (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) capital requirement are small due to the efficiency of the large scale operation (4) the costs of entry into the market are likely to be substantial

Description : If an industry is characterised by economies of scale then (1) barriers to entry are not very large (2) long run unit costs of production decreases as the quantity the firm produces increases (3) ... of the large scale operation (4) the costs of entry into the market are likely to be substantial 

Last Answer : long run unit costs of production decreases as the quantity the firm produces increases

If a fast food worker is entitled to $15 an hour, what are THESE people entitled to?

Description : If a fast food worker is entitled to $15 an hour, what are THESE people entitled to?

Last Answer : answer:The argument in favor of raising the minimum wage has nothing to do with fast food workers specifically. It has to do with the following idea: anyone who works full-time should be making enough ... asking for the ability to make a living by trading their labor for money. You know-capitalism.

8. If worker A earns more in wages than worker B, it could be because: a. The product made by worker A sells for a higher price than that made byworker Bb. Worker A uses more capital per worker than worker Bc. Worker A has more natural ability than worker Bd. All of the above

Description : 8. If worker A earns more in wages than worker B, it could be because: a. The product made by worker A sells for a higher price than that made worker B b. Worker A uses more capital per worker than worker B c. Worker A has more natural ability than worker B d. All of the above

Last Answer : d. All of the above

Zamindari , Mahalwari and Ryotwari system were based on exploitation by the (a) Middleman (b) Tenant © Worker (d) None of them.

Description : Zamindari , Mahalwari and Ryotwari system were based on exploitation by the (a) Middleman (b) Tenant © Worker (d) None of them.

Last Answer : (a) Middleman

Which of the following types of Organizational Charts can be BEST used to track project costs : A. Hierarchical-type Organizational Chart B. Organizational Breakdown Structure C. Resource Breakdown Structure D. Responsibility Assignment Matrix

Description : Which of the following types of Organizational Charts can be BEST used to track project costs : A. Hierarchical-type Organizational Chart B. Organizational Breakdown Structure C. Resource Breakdown Structure D. Responsibility Assignment Matrix

Last Answer : C. Resource Breakdown Structure

Which of the following types of Organizational Charts can be BEST used to track project costs : A. Hierarchical-type Organizational Chart B. Organizational Breakdown Structure C. Resource Breakdown Structure D. Responsibility Assignment Matrix

Description : Which of the following types of Organizational Charts can be BEST used to track project  costs : A. Hierarchical-type Organizational Chart B. Organizational Breakdown Structure C. Resource Breakdown Structure D. Responsibility Assignment Matrix

Last Answer : C. Resource Breakdown Structure

Which one from the following is highly associated activity of project planning? (A) Keep track of the project progress. (B) Compare actual and planned progress and costs (C) Identify the activities, milestones and deliverables produced by a project (D) Both (B) and (C)

Description : Which one from the following is highly associated activity of project planning? (A) Keep track of the project progress. (B) Compare actual and planned progress and costs (C) Identify the activities, milestones and deliverables produced by a project (D) Both (B) and (C)

Last Answer : (C) Identify the activities, milestones and deliverables produced by a project

What does the phrase "Money is the product of labour" mean in economics?

Description : What does the phrase "Money is the product of labour" mean in economics?

Last Answer : It means that human capital is necessary for the basic component of wealth creation. Sure, you get a return by renting something out, but some human capital went into creating whatever you' ... some labor into making the investment decision. Monetary capital without labor doesn't expand the economy.

Economics classifies the manmade instrument of production as: (1) Organization (2) Capital (3) equipment (4) labour

Description : Economics classifies the manmade instrument of production as: (1) Organization (2) Capital (3) equipment (4) labour

Last Answer : (2) Capital Explanation: Some economists have classified factors into two categories, land and labour (or nature and man) on the ground that they are the only original or primary factors. ... . However, other economists include all man-made instruments for production in the category of Capital.

The sum total of incomes received for the services of labour, land or capital in a country is called (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

Description : The sum total of incomes received for the services of labour, land or capital in a country is called (1) Gross domestic product (2) National income (3) Gross domestic income (4) Gross national income

Last Answer : (3) Gross domestic income Explanation: The Gross Domestic Income (GDI) is the total in-come received by all sectors of an economy within a nation. It includes the sum of all wages, profits, ... services), the gross domestic income of a count should exactly equal its gross domestic product (GDP).

Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Description : Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country? (1) GDP (2) GPN (3) OMP (4) GNP

Last Answer : (4) GNP Explanation: Gross National Product (GNP) is defined as "the market value of all goods and services produced in one year by labour and property supplied by the residents of a country. It is ... ), defined as "the value of all final goods and services produced in a country in I year."

Which among the following is not a non-customs duty obstacle in the world trade? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality

Description : Which among the following is not a non-customs duty obstacle in the world trade? (1) Quantity restriction (2) Establishment of Standard of labour in manufacturing (3) Determination of import duty uniformly (4) Restrictions on goods quality

Last Answer : (3) Determination of import duty uniformly Explanation: Non-tariff barriers to trade include import quotas, special licenses, unreasonable standards for the quality of goods, bureaucratic delays at customs, ... duty uniformly is comes under the sovereign duty of a nation. It is internal development.

Which of the following brings out the 'Consumer Price Index Number' for Industrial workers? (1) RBI (2) The Labour Bureau (3) Commerce Department (4) NITI Aayog

Description : Which of the following brings out the 'Consumer Price Index Number' for Industrial workers? (1) RBI (2) The Labour Bureau (3) Commerce Department (4) NITI Aayog

Last Answer : (2) The Labour Bureau Explanation: The Consumer Price Index Numbers for Industrial Workers CPI (IW) are being compiled, maintained and disseminated by the Labour Bureau since its inception in October, 1946. ... of the economy. These index numbers are compiled by the Bureau on month to month basis.

A rising Per Capita Income will indicate a better welfare if it is accompanied by - (1) unchanged Income distribution overall. (2) changed Income distribution in favour of rich. (3) changed Income distribution in favour of poor. (4) changed Income disribution in favour of Industrial Labour.

Description : A rising Per Capita Income will indicate a better welfare if it is accompanied by - (1) unchanged Income distribution overall. (2) changed Income distribution in favour of rich. (3) changed Income distribution in favour of poor. (4) changed Income disribution in favour of Industrial Labour.

Last Answer : (3) changed Income distribution in favour of poor. Explanation: Per capita income has lately been viewed as a better determinant of economic development and welfare. However, high inequality can still ... no quarters deprived as after all, economic welfare is a part and parcel of social welfare.

The supply of labour in the economy depends on - (1) Population (2) National income (3) Per capita income (4) Natural resources

Description : The supply of labour in the economy depends on - (1) Population (2) National income (3) Per capita income (4) Natural resources

Last Answer : (1) Population Explanation: The supply curve for labor depends on variables such as population, wage rates, etc. in developing countries, the vast population base explains the relatively lower wage ... accessibility to labour supply. This is just the opposite in the case of developed countries.

Which of the following does not determine supply of labour? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Description : Which of the following does not determine supply of labour? (1) Size and age-structure of population (2) Nature of work (3) Marginal productivity of labour (4) Work-leisure ratio

Last Answer : (3) Marginal productivity of labour Explanation: The term 'supply of labour' refers to the number of hours of a given type of labour which will be offered for hire at different wage rates. Usually ... relationship that exists between the wage rate i.e. the price of labour and labour hours supplied.

Aneconomy in which there are no flows of labour, goods or money to and from other nations is a/an - (1) slow economy (2) mixed economy (3) closed economy (4) open economy

Description : Aneconomy in which there are no flows of labour, goods or money to and from other nations is a/an - (1) slow economy (2) mixed economy (3) closed economy (4) open economy

Last Answer : (3) closed economy Explanation: An economy that does not interact with the economy of any other country is known as closed economy. A closed economy is selfsufficient, meaning no imports are brought in ... It is the opposite of an open economy, in which a country conducts trade with outside regions.

Indian agriculture is typically characterised as - (1) land surplus, labour scarce economy (2) land surplus, labour surplus economy (3) land scarce, labour surplus economy (4) land scarce, labour scarce economy

Description : Indian agriculture is typically characterised as - (1) land surplus, labour scarce economy (2) land surplus, labour surplus economy (3) land scarce, labour surplus economy (4) land scarce, labour scarce economy

Last Answer : (3) land scarce, labour surplus economy Explanation: The labor surplus economy model has as its basic premise the inability of unskilled agricultural labor markets to clear in countries with high man/land ... Japan, South Korea, and Taiwan are similar to India in being land scarce and labor surplus.

Which of the following occurs when labour productivity rises? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right

Description : Which of the following occurs when labour productivity rises? (1) The equilibrium nominal wage falls. (2) The equilibrium quantity of labour falls. (3) Competitive firms will be induced to use more capital (4) The labour demand curve shifts to the right

Last Answer : (4) The labour demand curve shifts to the right Explanation: As labour productivity increases, the production function shifts up and simultaneously the labor demand curve shifts out and right. At ... , the production function shifts up and simultaneously the labor demand curve shifts out and right.

The self-employed in a developing country who are engaged in small scale labour intensive work belong to the - (1) Informal sector (2) Primary sector (3) Secondary sector (4) Tertiary sector

Description : The self-employed in a developing country who are engaged in small scale labour intensive work belong to the - (1) Informal sector (2) Primary sector (3) Secondary sector (4) Tertiary sector

Last Answer : (2) Primary sector Explanation: Such a scenario is seen in the case of primary economic activities such as agriculture in the developing countries like India. Most of the primary activities are labour ... volume of man-power substitutes the lack of technology. Besides, farmers are 'self-employed.'

Labour Intensive Technique would get chosen in a - (1) Labour Surplus Economy (2) Capital Surplus Economy (3) Developed Economy (4) Developing Economy

Description : Labour Intensive Technique would get chosen in a - (1) Labour Surplus Economy (2) Capital Surplus Economy (3) Developed Economy (4) Developing Economy

Last Answer : (1) Labour Surplus Economy Explanation: Labour' refers to the people required to carry out a process in a business. Labour-intensive processes are those that require a relatively high level of ... intensive processes are more likely to be seen in Job production and in smaller-scale enterprises.

Division of labour is the result of - (1) Complicated work (2) excessive pressure (3) excess supply of labour (4) specialization

Description : Division of labour is the result of - (1) Complicated work (2) excessive pressure (3) excess supply of labour (4) specialization

Last Answer : (4) specialisation Explanation: Division of Labor is the "specialization" of cooperative labor in specific, circumscribed tasks and like roles. It is a process whereby the production process is broken down into a sequence of stages and workers are assigned to particular stages.

The demand for labour is called - (1) Market demand (2) Direct demand (3) Derived demand (4) Factory demand

Description : The demand for labour is called - (1) Market demand (2) Direct demand (3) Derived demand (4) Factory demand

Last Answer : (3) Derived demand Explanation: The demand for labour is "derived- from the production and demand for the product being demanded. If the demand for the product increases, either the price will ... price and production numbers are met. Labour is "derived" from the market demand for the product.

According to Modern Theory of Rent, rent accrues to - (1) capital only (2) any factor (3) labour only (4) land only

Description : According to Modern Theory of Rent, rent accrues to - (1) capital only (2) any factor (3) labour only (4) land only

Last Answer : (2) any factor Explanation: Modern theory of rent does not confine itself to the reward of only land as a factor of production as was the case in the classical Ricardian theory of rent. Rent in ... can arise in respect of any other factor of production. i.e., labour, capital and entrepreneurship.

Exploitation of labour is said to exist when - (1) Wage = Marginal Revenue Product (2) Wage < Marginal Revenue Product (3) Wage > Marginal Revenue Product (4) Marginal Revenue Product =0

Description : Exploitation of labour is said to exist when - (1) Wage = Marginal Revenue Product (2) Wage < Marginal Revenue Product (3) Wage > Marginal Revenue Product (4) Marginal Revenue Product =0

Last Answer : (2) Wage < Marginal Revenue Product Explanation: The term "exploitation" is used to denote the payment to labor of a wage less than its marginal revenue product. Under monopolistic competition, ... this sense. All firms hire labour until the marginal revenue product equals the marginal factor cost.

The four factors of production are - (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools,

Description : The four factors of production are - (1) land, labour, capital, organisation, (2) land, electricity, water, labour (3) labour, capital, land, rainfall, (4) labour, climate, land, tools,

Last Answer : (1) land, labour, capital, organisation, Explanation: Factors of Production is an economic term to describe the inputs that are used in the production of goods or services in the attempt to ... -made resources), and (iv) Enterprise (which brings all the previous resources together for production).

Enterpreneurial ability is a special kind of labour that - (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

Description : Enterpreneurial ability is a special kind of labour that - (1) is hired out to firms at high wages (2) organizes the process of production (3) produces new capital goods to earn interest (4) manages to avoid losses by continual innovation

Last Answer : (2) organizes the process of production Explanation: In economics, factors of production are the inputs to the production process. Factors of production' may also refer specifically to the 'primary factors', ... the other factors of production, land, labor, and capital, in order to make a profit.