Adam Smith's Theory of value stated that the value of a commodity depended on________

Which of the following persons is engaged in "Secondary Production"?

I - a bricklayer
II - an automobile assembly-line worker
III - an accountant
IV - a cinema projectionist

Let capital formation = CF, Production = P, C = consumption. Then CF =_______

If wage rate is less than the average revenue product, the firms would be earning________

The determination of wages in a labour market depends on the_______