Question

Explain briefy the importance of labour in modern economic system.​

Answer 1

Answer:

Labour includes both physical and mental work undertaken for some monetary reward. Labour is more perishable than other factors of production. As compared to capital and other goods, labour is less mobile.

Answer 2

Answer:

Labour includes both physical and mental work undertaken for some monetary reward. Labour is more perishable than other factors of production. As compared to capital and other goods, labour is less mobile.

Explanation:

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