_______ is an active agent of production.
Land
Labour
Capital
Organization
When labour is more dominant than capital it is called ________ production.
Labour intensive
Capital intensive
Large scale production
Small scale production
The area of _______ is fixed.
Indicate below what is not a factor of production?
A bank loan
The act of making goods and services in order to satisfy various human wants is called
Production
Education
Transportation
Communication
The remuneration paid for the services of ________ is called wages.
Labourer
Entrepreneur
Products
Savings
The _____ of a country depends on the growth rate of national output or percapita output.
Income
Economic growth
Profit
Service sector
Factors of production such as land, labour, capital and organization are transferred into output, the process is called
Man made instruments of production are called
Labour cannot be separated from the
Restored
Service
Bargain