Skip to content
- Labour indicates some kind of ‘mental’ or ‘physical’ exertion undertaken with a motive to earn money.
- Labour is the most important factor of production.
- A nation having plenty of rich land but no labour force, cannot attain any economic development or prosperity.
- Agriculture, industries, mining, transport system, trade activities, etc., all require sufficient and efficient workers for proper functioning.
- Quality of labour can be improved by investing capital.
- Age, wage rate and efficiency of workers affect the supply of workers.
- In some places the industrialists exploit the labor class.
- They take a lot of work from them but pay them very less.
- Labourers are forced to work for 10-15 hours a day in very tough conditions.
- Labour day is also celebrated focusing on their rights and needs.
