State and explain two unique characteristics of Labour as a factor of production.
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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.
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.
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