Question

Mention the characteristics of Labour.

Give two characteristics of labour.

Explain any four/five characteristics of labour as a factor of production.

Answer 1

1. Labour is more perishable than other factors of production.
2. Labour cannot be stored.
3. Labour is an active factor in production.
4. Labour is not homogeneous.
5. Labour cannot be separated from the labourer.
6. Labour is mobile.
7. Individual labour has only limited bargaining power.
8. He cannot fight with his employer for a raise in wages or improvement in workplace conditions.
9. Labour sells his services and not himself.