Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
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Question
Chapter 12, Problem 4AA
To determine
To determine the best word that fits in the blank.
Expert Solution & Answer
Answer to Problem 4AA
Option (a) − Resource
Explanation of Solution
Human labor: It is the amount of mental and physical effort done by the person working so as to produce the goods and services, for which they receive wages.
Human labor helps in the production of goods and services and is a resource to have the production and the productivity. It is a highly valuable resource as it helps in the production of the products from a raw material to the finished good using their skills, physical strength and mental ability.
No other fits in the blank as resource is the only option which tells about what human labor can be and how valuable it is for increasing the productivity of the industries and the
Chapter 12 Solutions
Economics Today and Tomorrow, Student Edition
Ch. 12.1 - Prob. 1RCh. 12.1 - Prob. 2RCh. 12.1 - Prob. 3RCh. 12.1 - Prob. 4RCh. 12.2 - Prob. 1RCh. 12.2 - Prob. 2RCh. 12.2 - Prob. 3RCh. 12.2 - Prob. 4RCh. 12.3 - Prob. 1RCh. 12.3 - Prob. 3R
Ch. 12.3 - Prob. 4RCh. 12 - Prob. 1AACh. 12 - Prob. 2AACh. 12 - Prob. 3AACh. 12 - Prob. 4AACh. 12 - Prob. 5AACh. 12 - Prob. 6AACh. 12 - Prob. 7AACh. 12 - Prob. 8AACh. 12 - Prob. 9AACh. 12 - Prob. 10AACh. 12 - Prob. 11AACh. 12 - Prob. 12AACh. 12 - Prob. 13AACh. 12 - Prob. 14AACh. 12 - Prob. 15AACh. 12 - Prob. 16AACh. 12 - Prob. 17AACh. 12 - Prob. 18AACh. 12 - Prob. 19AACh. 12 - Prob. 20AACh. 12 - Prob. 21AACh. 12 - Prob. 22AACh. 12 - Prob. 23AACh. 12 - Prob. 24AACh. 12 - Prob. 25AACh. 12 - Prob. 26AACh. 12 - Prob. 27AA
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