Question

examine the peculiarities of labour as a factor of production?​

Answer 1

Answer:

Labour is more perishable than other factors of production. It means labour cannot be stored. The labour of an unemployed worker is lost forever tor that day when he does not work. Labour can neither be postponed nor accumulated for the next day.

Explanation:

The second factor of production is labor. Labor is the effort that people contribute to the production of goods and services. Labor resources include the work done by the waiter who brings your food at a local restaurant as well as the engineer who designed the bus that transports you to school.