Question

Define Labour. (Topic: Factors of Production)

Answer 1

labour refers to the people who do the work . this include skilled and unskilled labour . some production activities require highly educated workers to perform the necessary tasks. other activities require workers who can do manual work.

Answer 2

Labour:

The requirements based on which production of products and services depend on are called as factors of production. There are four factors of production. They are labour, human capital land, and physical capital.

a. Labour refers to the persons who do the work.

b. The skillset of labour depends highly on the nature of production.

c. Some activities require highly skilled and educated labour.

d. Many other activities require less education but skill in their respective work areas.

e. Certain other production requires simple manual work.

f. Farming requires a lot of manual work. Sometimes small farmers get their families involved in cultivating their land.

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