What is Labour together with Labourer ? Meaning ↓
Usually, the term 'Labour' is used for 'worker'. But, technically, it is non correct. Labour together with Labourer (worker) are 2 unlike things.
Labour is an powerfulness to work. Labour is a wide concept because it includes both physical together with mental labour (as per inwards a higher house picture). Labour is a principal or human part of production. It indicates human resource.
Labourer is a someone who owns labour. So labourer agency worker. It is a someone engaged inwards or then work.
Peculiarities / Features / Characteristics of Labour ↓
1. Labour is inseparable from labourer
Labour tin give the sack non live separated from labourer. Worker sells their service together with doesn't sell themselves.
2. Labour is a perishable factor
Labour tin give the sack non live stored. Once the labour is lost, it tin give the sack non live made up. Unemployed workers tin give the sack non shop their labour for hereafter employment.
3. Cost of producing a labour cannot live determined
It is slow to calculate production toll of a commodity produced inwards an industry. But toll of producing a labour is a vague concept because it includes expenses incurred yesteryear parents on teaching of their children together with other expenses incurred on them right from their nativity date. It is impossible to guess all such casts accurately.
4. Labour is an active part of production
Other factors similar land, uppercase are passive, only labour is an active part of production. Being a human being, this part has its ain feelings, likes together with dislikes, thinking power, etc. We tin give the sack attain amend character together with marking of production, if province together with uppercase are employed properly inwards closed association amongst Labour. So without labour, nosotros cannot imagine the shine bear of production.
5. Labour is a heterogeneous factor
No 2 persons possess the same character of labour. Skills together with efficiency differs from someone to person. So, or then workers are to a greater extent than efficient than others inwards the same job.
6. Labour has imperfect mobility
Labour doesn't motility easily from 1 business to or then other because of several factors similar menage unit of measurement together with cultural background, express educational together with technical skills, lifestyle, housing together with carry problems, linguistic communication barrier, adaptability to novel environments, etc.
7. Labour provide is inelastic inwards general
Supply of labour depends upon many factors similar size of population, historic menstruum together with sexual practice composition, wishing to work, character of education, mental attitude towards work, etc. Thus, provide cannot live changed easily according to changes inwards demand.
Hence, inwards general, labour provide is inelastic. But for a item industry, it may live relatively elastic.
8. Labour is a human capital
Society makes investment inwards labour inwards the forms of education, health, training, etc. This improves efficiency of labour. So, it is a human capital.
9. Trade unionism is a part of Labour
Workers collectively shape their scheme which is known equally merchandise union. With this, they deal amongst their employers together with at that topographic point yesteryear secure higher reward together with amend working conditions. Such merchandise unionism is non possible inwards other factors of production similar land, else industrial plant entirely inwards representative of labour (labourer).
10. Labour has a derived demand
Like other factors of production, labour has a derived / indirect demand. It contributes to production process.
11. Labour is a Mean besides equally an End
Labour is a hateful of production inwards factory. But exterior the manufacturing flora premises worker may live a consumer of that product. So, he powerfulness live an cease user of that commodity.
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