Question

Which of these is a feature of "labour", as a factor of production?

• A. Human efforts
• B. Perishable nature
• C. Weak bargaining power
• D. All of the above

Answer 1

The correct option is D All of the above

Labour as factor of production, includes human physical and mental efforts; it is perishable in nature; labour has a weak bargaining power, i.e, weak relative ability in a situation to exert influence on the wage rate prevailing in the market.