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Which factor of production encompasses both physical and mental effort in creating goods and services?
  • a)
    Capital
  • b)
    Labour
  • c)
    Entrepreneurship
  • d)
    Land
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which factor of production encompasses both physical and mental effort...
Labour refers to the human effort, both physical and mental, that is utilized in the production of goods and services. This can include a variety of professions, from manual laborers to highly skilled professionals. The efficiency and effectiveness of labour can significantly influence a business's productivity and success.
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