Question

Why should Land and Labor be important?

Answer 1

Land and Labor (READ BELOW) :-3

Explanation: Land is any natural resource that's needed or used in the production of a good or service. Land can also include any resource that comes from the land such as oil, gas, and other commodities such as copper and silver. Typically, land includes any natural resource that's used as raw materials in the production process.

Labor consists of the people that are responsible for the production of a good, including factory workers, managers, salespeople, and the engineers that designed the machinery used in production.

Answer 2

Importance of Labour in Production: Labour is the fundamental and active factor of production Labour has important contribution to the production of commodities. Labour is the exertion of mind and body undertaken with a view to some goods other than the pleasure directly derived from the work.

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