explain three feature labour as factor of production
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1. Labour means Human Exertion:
Labour means only human exertion and not the exertion of the cattle or machine. Labour always involves the mental or physical pain and sacrifice. For example, when a man works and is busy for a few hours, he becomes tied and so he needs rest.
2. A Man’s Labour is part of himself:
This means the labour cannot be separated from the labourer. When the labourer sells his labour he has to deliver it in person and he cannot sell his labour like land and capital.
3. Labour Power and Labour Co-exist:
The labour power exists as long as the labourer exists. It becomes invalid or disappears when the labourer retires or expires.
Labour means only human exertion and not the exertion of the cattle or machine. Labour always involves the mental or physical pain and sacrifice. For example, when a man works and is busy for a few hours, he becomes tied and so he needs rest.
2. A Man’s Labour is part of himself:
This means the labour cannot be separated from the labourer. When the labourer sells his labour he has to deliver it in person and he cannot sell his labour like land and capital.
3. Labour Power and Labour Co-exist:
The labour power exists as long as the labourer exists. It becomes invalid or disappears when the labourer retires or expires.
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