Which of the following is not a peculiarity of labour market?

Labour market is normally local in nature.

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The number of buyers is less than the number of sellers.

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Labour is less mobile.

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Worker can sell not only his own labour but also the labour of his fellow workers.

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Solution

The correct option is D Worker can sell not only his own labour but also the labour of his fellow workers.
In labour market the relationship between employers and employees is highly impersonal and unbiased. Hence workers cannot sell the labour of his fellow workers.

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Read the extract and answer the following:

Labour refers to any physical and mental endeavour undertaken for the purpose of producing a good or a service. In India, in 2012 there were 487 million workers, the second largest after China. About

94 %

of Indian Labour is involved in the unorganised sector comprising semi-skilled and unskilled workers ranging from push cart vendors to home-based diamond and gem polishing operators. The organised sector includes workers employed in the public sector and the private sector.

(1) Explain any four special characteristics of labour.

(2) With suitable examples explain three classifications of labour.

(3) Define efficiency of labour. Briefly explain the impact of technology on the efficiency of labour.

Q. If labour is considered as an important factor of production then explain peculiar characteristics of labour.

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Which of the following is not a peculiarity of labour market?

The correct option is D Worker can sell not only his own labour but also the labour of his fellow workers.In labour market the relationship between employers and employees is highly impersonal and unbiased. Hence workers cannot sell the labour of his fellow workers.

The correct option is D Worker can sell not only his own labour but also the labour of his fellow workers.
In labour market the relationship between employers and employees is highly impersonal and unbiased. Hence workers cannot sell the labour of his fellow workers.