The major cost of production in the economy is

Question

Quizplus · Accepted Answer

Wages make up the largest cost of production in the economy, as they represent the compensation paid to workers for their labor. While other costs, such as rent and capital expenses, can be significant, they are typically smaller in scale compared to the cost of paying wages to employees. Interest expense and profits are not considered costs of production, but rather represent financial outcomes resulting from the production process.

The Major Cost of Production in the Economy Is