Labour includes all forms of productive human efforts put into or utilized in production. It also refers to man’s mental and physical exertions generated in the process of production. Features of Labour (i) Labour is also one of the factors of production (ii) Human efforts can be intellectual or mental, manual or physical, provided it […]
Labour includes all forms of productive human efforts put into or utilized in production. It also refers to man’s mental and physical exertions generated to aid the process of production. FEATURES OF LABOUR it is mobile it feelings and cannot be used anyhow. the unit of labour is man-hours or man-days. the reward of labour
Meaning of factors of Productions For the activities of production to take place, factors must be available.These are the things that make the production of goods and services possible; hence they are called factors or agents of production. They are; Land Labour Capital and Enterpreneur These factors supply the money, physical effort, land or place
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