Question 8 of 10
2 Points
Which of the following is an essential commodity needed for the productive
process?
O
A. Inputs
O
B. Planning
O c. Labor
O D. Allocation
SUBMIT

c. Labor

Explanation:

There are four factors of production. They include labor, land, capital, and entrepreneurship. These factors of production are also known as inputs in the manufacturing process. They represent the essential requirement for production.

From the list provided, labor is an essential commodity. It is among the factors of production. Labor refers to the human contribution in production through their skills, energy, and experience. It is the human input or the work done by human beings. The reward for labor service is the wages and salaries paid to workers.

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