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Q.Which of the following describes human effort in economics A1.(Human effort is not considered part of economics) A2.(Human effort is one of the resources of production) A3.(Human effort is effected economics , but outside economic theory) A4.(Human effort is the only real resource of production)

Respuesta :

A2 I believe is right but I am not 100% sure


amniotecardamom

Answer:

A2.(Human effort is one of the resources of production)

Explanation:

There are three factors of production in a developed capitalist economy. Human capital, industrial capital and technology. Human capital consists of the labor force, the fruit of men's efforts to satisfy their needs. Industrial capital consists of machines and production inputs and technology is a factor of production that serves to optimize the productivity of the other two factors, industrial capital and labor force.

For example, a manufacture is produced with 1 machine and 2 workers. If a technology is implemented, production can change to just one machine and 1 worker.

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