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xxMikexx [17]
3 years ago
13

Discuss the characteristics of Labour ​

Business
1 answer:
Ymorist [56]3 years ago
4 0

Some of the characteristics are:

1. Labour is original and indispensable factor of production

2. Labour is an active factor of production

3. Labour is perishable than any other commodity 4. Labour cannot be separated from the labourer and Others.

Characteristics

1. Labour is original and indispensable factor of production:

Labour is original and indispensable factor of production without it the work of production is not possible.

2. Labour is an active factor of production:

Land and capital are considered as the passive factor of production, because they alone cannot start the production process. Production from land and capital starts only when a man makes efforts. Production begins with the active participation of man

3. Labour is perishable than any other commodity:

Labour is more perishable than other factors of production. It means Labour cannot be stored. The Labour of an unemployed worker is lost forever for that day when he does not work.

4. Labour cannot be separated from the labourer:

Land and capital can be separated from their owner, but Labour cannot be separated from a labourer. Labour and labourer are indispensable for each other. For example—It is not possible to bring the ability of a teacher to teach in the school, leaving the teacher at home. The labour of a teacher can work only if he himself is present in the class.

Explanation:

good luck

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If both supply and demand decrease simultaneously, the new equilibrium price is ___________ and the new equilibrium quantity is
Artyom0805 [142]

Answer:

Option (D) is correct.

Explanation:

If there is a fall in both the supply and demand for a commodity then as a result there is a leftward shift in both the curves. This leftward shift in both the curves, decreases the equilibrium quantity and impact of this shift is indeterminate for equilibrium price because we don't know the magnitude of the shifts of demand and supply curve.

6 0
4 years ago
What is a compound interest?
son4ous [18]

Answer:

Compound interest  is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. Interest can be compounded on any given frequency schedule, from continuous to daily to annually.

Explanation:

3 0
3 years ago
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If a payment cap is applied and the required payment does not cover the interest expense, the unpaid interest is added to the lo
spin [16.1K]

The condition when a payment cap is applied and the required payment does not cover the interest expense, the unpaid interest is added to the loan thereby increasing the loan balance even though the required payment is being made, is known as a negative amortization.

<h3>What is negative amortization?</h3>

A condition where the amount owed by an individual keeps adding even after the repayments are done is known as negative amortization.

Such condition of a negative amortization arises as the amount being repaid does not fully or partly cover the interest amount.

Hence, the significance of negative amortization is aforementioned.

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6 0
2 years ago
Will and Janine are divorced during the current year. Will is to have custody of their two children and will receive their house
Leto [7]

Answer:

Since Will is getting the custody of their two children, he can claim them as dependents and deduct exemptions when he files his taxes.

  • child tax credit ($2,000 per child under 18)
  • child and dependent tax credit (up to $3,000 per child under 13 and $500 for dependent over 13)
  • American opportunity education credit (up to $2,500 per child that studies x 4 years maximum)

Alimony can no longer be deducted from Janine's AGI, nor it should be included in Will's AGI.

Property distributions (cars and house) will not have any effect in their taxes, but if they sell them, their basis will be the value at the time of divorce.

7 0
4 years ago
Calculating the price elasticity of demand: A step-by-stepguideSuppose that during the past year, the price of a laptop computer
NARA [144]

Answer:

original quantity = 468,000

Average quantity = 382,000

new quantity = 296,000

a. -45.03%

original price - $2,950

new price = $3,110

Average price = 3030

3. -172,000

$160

b. 5.28%

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price  

Average quantity = (468,000 + 296,000) / 2 = 382,000

Average price = ($2,950  + $3,110) / 2 = 3030

Change in quantity = 296,000 - 468,000 = -172,000

Change in price = $3110 - $2950 = $160

percentage change in quantity demanded = (-172,000 /  382,000) x 100 = -0.4503 = -45.03%

percentage change in price = 160 / 3030 x 100 = 5.28%

Elasticity of demand = -45.03% / 5.28% = -8.53 = 8.53

8 0
3 years ago
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