Four characteristics of labour as a factor of production
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Answered by
222
hi frnd,
I'm writing 5...
a. Labour is an active factor of production.
b. Efficiency of the labour can be increased through training.
c. Farm labourers come either from landless families or families cultivating small plots of land.
d. Wages are paid to the labour in lieu of the service.
e. Labour can be either skilled or unskilled.
i hope it helps u !!☺☺
I'm writing 5...
a. Labour is an active factor of production.
b. Efficiency of the labour can be increased through training.
c. Farm labourers come either from landless families or families cultivating small plots of land.
d. Wages are paid to the labour in lieu of the service.
e. Labour can be either skilled or unskilled.
i hope it helps u !!☺☺
Answered by
44
Labor as a factor of production refers to any manual or mental work undertaken by human workers.
It is characterized by :
1. It is provided by a human being and not a machine. As a result,they will often take breaks reducing production unlike a machine.
2. It is perishable. This means that whenever a laborer is not working their labor is wasted.
3. Labor is part of the laborer. It cannot be separated from the laborer.
4. Labor is not transferable unlike other factors of production.
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