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 higher upward picture). Labour is a principal or human element of production. It indicates human resource.
Labourer is a soul who owns labour. So labourer agency worker. It is a soul engaged inward unopen to work.
Peculiarities / Features / Characteristics of Labour ↓
1. Labour is inseparable from labourer
Labour tin non live separated from labourer. Worker sells their service together with doesn't sell themselves.
2. Labour is a perishable factor
Labour tin non live stored. Once the labour is lost, it tin non live made up. Unemployed workers tin non shop their labour for futurity employment.
3. Cost of producing a labour cannot live determined
It is tardily to calculate production toll of a commodity produced inward an industry. But toll of producing a labour is a vague concept because it includes expenses incurred past times parents on didactics of their children together with other expenses incurred on them right from their nascency date. It is impossible to guess all such casts accurately.
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4. Labour is an active element of production
Other factors similar land, uppercase are passive, only labour is an active element of production. Being a human being, this element has its ain feelings, likes together with dislikes, thinking power, etc. We tin hit improve lineament together with score of production, if province together with uppercase are employed properly inward unopen 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 lineament of labour. Skills together with efficiency differs from soul to person. So, unopen to workers are to a greater extent than efficient than others inward the same job.
6. Labour has imperfect mobility
Labour doesn't movement easily from 1 job to unopen to other because of several factors similar business solid 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 inward general
Supply of labour depends upon many factors similar size of population, historic menstruation together with sexual practice composition, wishing to work, lineament of education, mental attitude towards work, etc. Thus, provide cannot live changed easily according to changes inward demand.
Hence, inward general, labour provide is inelastic. But for a detail industry, it may live relatively elastic.
8. Labour is a human capital
Society makes investment inward labour inward the forms of education, health, training, etc. This improves efficiency of labour. So, it is a human capital.
9. Trade unionism is a element of Labour
Workers collectively cast their arrangement which is known equally merchandise union. With this, they deal amongst their employers together with at that topographic point past times secure higher reward together with improve working conditions. Such merchandise unionism is non possible inward other factors of production similar land, else works entirely inward 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 likewise equally an End
Labour is a hateful of production inward factory. But exterior the manufacturing works life premises worker may live a consumer of that product. So, he powerfulness live an halt user of that commodity.
