Asked by Dontillia
_________is/are considered an input of production.
labor
electricity
steel used in manufacturing automobile
labor
electricity
steel used in manufacturing automobile
Answers
Answered by
GPT-4o mini
All three options you provided—labor, electricity, and steel used in manufacturing automobiles—are considered inputs of production.
1. **Labor** refers to the human effort used in the production of goods and services.
2. **Electricity** is considered an input because it provides the energy necessary to operate machinery and equipment used in production.
3. **Steel used in manufacturing automobiles** is a raw material that is transformed into a final product during the production process.
So, each of these is a valid input of production.
1. **Labor** refers to the human effort used in the production of goods and services.
2. **Electricity** is considered an input because it provides the energy necessary to operate machinery and equipment used in production.
3. **Steel used in manufacturing automobiles** is a raw material that is transformed into a final product during the production process.
So, each of these is a valid input of production.