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12. Explain briefly the following: (a) Land (b) Labour |
Answer» LAND- land COMPRISES all NATURAL resources such as mineral,deposit,fish stocks,water,forest,atmospheric quality.,etc. LABOUR- Labour refers to the number of people workers in the economy. CAPITAL- Capital generally refers to financial wealth, especially that used to start or maintain a business. HUMAN CAPITAL- The skills,ability,knowledge or other intangible assests of humans which influence their productive capacity and earning is KNOWN as human capital.Explanation: |
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