Question

explain five other factors besides monetary reward that effect the supply of labour in an economy​

Answer 1

The supply of labour is affected by numerous factors including the wage rate, migration patterns, changes in income tax, benefit reform, trade unions, government labour regulations, changes in the retirement age and female participation in the workforce.

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Answer 2

Answer:

In every economic field the market of labour is affected by the demand and supply powers. The supply of labour is considered on the basis of population, different age groups, participation their education.

Supply of labour is related with that quantity and rate at which the labourers are ready to work.

According to Rees following are four factors which affect the supply of labour: 1. Participation Rate as Labour Force 2. Number of Hours the Labourers is Willing to Work 3. Speed or Intensity of Work 4. Efficiency or Skill of Work.