Labor is the human input to the production procedure. Alferd Marshall States labor as ‘the utilization or exertion of body or mind, partially or entirely, with a view to safe an income separately from the pleasure derived from work’.Characteristics or Peculiarities of labor:
(A) Labor is unpreserved.
(B) Labor is an active factor of production. Neither land nor capital can give up much without labor.
(C) Labor is not homogeneous. The skill and dexterity differ from person to person.
(D) Labor can’t be separated from laborer.
(E) Labor is mobile. Man moves from one place to other from a low paid occupation to a high paid profession.
(F) Individual labor contains only limited bargaining power. He can’t fight with his employer for an increase in salary or enhancement in work-place circumstances. Though, whenever workers join to form trade unions, the bargaining power of labor rises.Labor can suppose numerous forms. Breaking stones, digging earth, carrying loads include simple labor operations however labor also covers extremely qualified and skilled managers, engineers and technicians.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Production help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Production, project ideas and tutorials. We provide email based Production help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Production. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics Homework help and assignment help services. They use their experience, as they have solved thousands of Economics assignments, which may help you to solve your complex issues of Production. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!