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Which expense can be considered a hidden cost while preparing a farm family budget?
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Answer and explanation
Correct answer: Unpaid labour of family members
Unpaid family labour contributes to production but is often not recorded as cost. Exam tip: include hidden costs in profit calculation.
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What is the correct answer to this question?
Unpaid labour of family members
Why is this the correct answer?
Unpaid family labour contributes to production but is often not recorded as cost. Exam tip: include hidden costs in profit calculation.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Traditional occupations in India - Agriculture.
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