What term describes productive work, especially physical work done for wages?

What term describes productive work, especially physical work done for wages?

• A. Labour
• B. Enterprise
• C. Capital
• D. Land

Answer: (A)

The correct term that describes productive work, particularly physical work performed for wages, is "labour." Labour refers to the efforts of individuals engaged in tasks that contribute to the production of goods and services. It embodies the human component of the production process, encompassing both physical exertion and mental skills when workers effectively translate their abilities into productive outputs. In the context of economics and business management, understanding labour is crucial as it highlights the importance of human capital in achieving organizational objectives and driving economic growth. The wages that workers receive in return for their labour reflect not only their time and effort but also their skills and contributions to a business. Other terms, such as enterprise, capital, and land, refer to different factors of production. Enterprise relates to the initiative taken by individuals to organize resources for production, capital encompasses the financial resources and physical assets used in production, and land represents the natural resources utilized in the process. Each of these plays a distinct role in the production landscape, but only labour specifically pertains to the work done, particularly the physical aspect, for remuneration.

The correct term that describes productive work, particularly physical work performed for wages, is "labour." Labour refers to the efforts of individuals engaged in tasks that contribute to the production of goods and services. It embodies the human component of the production process, encompassing both physical exertion and mental skills when workers effectively translate their abilities into productive outputs.

In the context of economics and business management, understanding labour is crucial as it highlights the importance of human capital in achieving organizational objectives and driving economic growth. The wages that workers receive in return for their labour reflect not only their time and effort but also their skills and contributions to a business.

Other terms, such as enterprise, capital, and land, refer to different factors of production. Enterprise relates to the initiative taken by individuals to organize resources for production, capital encompasses the financial resources and physical assets used in production, and land represents the natural resources utilized in the process. Each of these plays a distinct role in the production landscape, but only labour specifically pertains to the work done, particularly the physical aspect, for remuneration.