Your answer corresponds to the (mainstream) neoclassical view. According to this view, labour participates together with capital and land in the physical transformation of products, and firms cover the costs of these factors by paying out wages, profits and rents. With which of the following statements do you most agree with?

• in order to understand production theoretically, we must only know the factors of production that are remunerated for their efforts. Economically speaking, the remuneration of capital and land is no different from the the remuneration of labour
• in order to understand production theoretically, we must only know the factors of production that are remunerated for their efforts. Economically speaking, the remuneration of capital and land is quite different from the the remuneration of labour
• in order to understand production theoretically, monetary transactions are unimportant; we must only understand the physical dimension of production