Question

Which of the following statement(s) about labour as a factor of production is/are true?

• A. Labourers are paid wages for their work.
• B. The reward received by labour is profits.
• C. Labourers use their physical, mental and intellect to carry out the production.
• D. All of the above

Answer 1

Answer: (A), (C)

The correct options are
A Labourers are paid wages for their work.
C Labourers use their physical, mental and intellect to carry out the production.

Labour is the second factor of production. It is the use of physical, mental and intellect of a person for money. Wages are the reward received by labour as a factor of production. A labourer's energy is known as manpower. Manpower can be enriched by training and education.