Two components of labor are:
A) residential location and education.
B) natural ability and human capital.
C) money and financial wealth.
D) ingenuity and job-specific machinery.

Question

Quizplus · Accepted Answer

The two components of labor are natural ability and human capital. Natural ability refers to a person's inherent skills and talents, while human capital refers to the skills, knowledge, and education acquired through training and experience. These two components determine the productivity and output of a worker.

Two Components of Labor Are