All categories

2 years ago

Discuss the characteristics of Labour

Business

1 answer:

Ymorist [56]2 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

please mark me as a brainliest

You might be interested in

Acquisition of Land and Building On February 1, 2016, Edwards Corporation purchased a parcel of land as a factory site for $100,

Kitty [74]

Answer:

Cost of Land is $104,000, cost of building is $653,000. The total cost is $757,000

Explanation:

The cost of the building will include the purchase price of the land and building and every other cost incurred in the process of making the land and building available for use.

However, every amount realized from the process will also be deducted from the cost of the land and building. To separate the cost of land from the cost of the building, we must identify the cost attributable to each of them

As such, the recorded cost on land

= $100,000 + $4,000

= $104,000

and cost of building

= $10,000 + $20,000 + $625,000 - $2,000

= $653,000

5 0

3 years ago

Big Equipment Company sold a tractor-scraper to Ace Paving for $125,000. Ace made a down payment of $25,000 and agreed to pay th

miv72 [106K]

Answer:

a. Reformation

Explanation:

In the given instance, it is clearly observed that the Vehicle Identification Number is not correctly written in the contract, and that happened due to typing errors, and was not intentional.

In these cases the courts order to reform the contract, and then the reformed contract shall reflect the intentions of both the parties as what they intend.

In the given case also, reformation will take place as the error is not due to intentionally, fraud with the other party. Thus correct option is:

a. Reformation

7 0

3 years ago

Corruption, Inc., uses process costing, they have overstated the percentage of work completed with respect to conversion cost on

forsale [732]

Answer:

(1) understated

(2) understaded

(3) unchanged

Explanation:

The amount of equivalent units will be higher as the ending inventory of work in process will be above of what it should be.

As we have more equivalent untis the cost per equivalent unit will be lower:

$\frac{cost}{equivalent \:units}$

So both, conversion cost and total cost per equivalent untis will e lower than it should be as are getting divided over a larger amount.

the physical amount of units worked during the month and those which are complete will not be affected as the percentage of completion is an accounting tool to calculate the cost not to count the amount of units in possession

5 0

3 years ago

in a recent issue of aarp the magazine, a print ad for state farm insurance annuities advises readers that "the company has help

Vinil7 [7]

In the issue of this magazine the people that the ad is most likely targeting would be the baby boomers.

<h3>Who are the baby boomers?</h3>

This is the name that was used to refer to the people that were born at the period that the second word war ended and towards the 1960s. These were the people that were in the United States between the years of mid-1946 and mid-1964,

Hence we can conclude by saying that In the issue of this magazine the people that the ad is most likely targeting would be the baby boomers.

Discuss the characteristics of Labour ​

Discuss the characteristics of Labour