Which factor of production is more abandent in palampur village
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✴Which factor of production is more abandent in palampur village?
⭕labour is the most abundant factor in village Palampur.
⭕There is a huge competition between all labours living in that village.
⭕Due to this, labourers in Palampur are getting less than minimum wages.
⭕Minimum wages set by government is Rupees 60 per day but in Palampur, laborers are getting only 35 to 40 rupees per day.
⭕This is happening because landowners know that if a labour will be demanding high wages, they will hire another labour in less money then the previous one.
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