Question

Define labour. Explain any three characteristics of labour.

Answer 1

Labour consists of all human efforts of body or of mind which are undertaken in the expectation of reward.

Characteristics of labour-

1) Land is an active factor of production - Labour being a living organism is an active factor of production. Unlike other factors of productions labour can make use if land, capital and facilitate production.

2) Labour cannot be separated from labourer - Labour has to be present at the place of work. Therefore worker's presence at the work place and services go together.

3) Labour sells his labour, not himself - Labour remains quite independent while doing his work. He does not sell himself but sells his services.