Question

Nature scope and importance of study of labour economics

Answer 1

“Labour Economics may be defned as a study o theorganization, institutions and behavior o the labour market in anindustrising or industrial economy”
Labour economics or manpower economics is primarilyconcerned with ecient utilization and conservation o manpower and resources. !t studies and seeks to understand theprocesses by which manpower is applied and utilized in modernsociety. !t is concerned o natural resources in the land”.