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Is labour a major factor for business production.
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[QUOTE="Holicent, post: 242504, member: 76163"] No, labour is not a major factor for business production. Labour is considered one of the 4 factors of production (the other 2 being land and capital and entrepreneur). A business can be successful without a large number of employees. The ratio of labour to business production is a factor that can be controlled by businesses. Businesses can control the ratio of labour to business production by hiring more employees or firing employees. In this case, labour is a factor for the business because it does not completely control how much employees it hires or fires. Labour is important but it's not as if it supersedes other factors of production. They depend on one another for the growth or the workability of a business plan. Just like you can't run a business without having a land, either rented by you or owned by you, a building must be erected the land. You also need capital to start and run a business effectively. [/QUOTE]
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Is labour a major factor for business production.
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