Advertisement Remove all ads

Distinguish Between the Following: Labour and Entrepreneur - Economics

Distinguish Between

Distinguish between the following:

Labour and entrepreneur

Advertisement Remove all ads

Solution

Labour
Entrepreneur
It refers to the exertion by the human body and mind, with the objective of earning a living.
It refers to the person who undertakes the task of production. He organises the activities, controls the activities related to production and distribution, and bears the risk of failure of the business.
They receive wages in return for their services.
They receive profits in return for their services.
  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 7 Factors of Production
Exercise | Q 1.4 | Page 61
Advertisement Remove all ads

Video TutorialsVIEW ALL [1]

Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×