Theory question 105
Labour Market(a) Define labour
(b) Give four factors that affect the efficiency of labour in your country
Show the model answer
Model answer
(a) Labour is the human effort, mental and physical, used in the production of goods and services in return for wages.
(b) Any four: level of education and training; health and nutrition of workers; working conditions; wages and incentives; quality of tools and machines; quality of management; climate; job security; motivation and morale.
Explanation
Efficiency means output per worker.