Types
This category of labour consists of workers with specialised training for a particular profession and long practical experience; doctors, engineers and lawyers fall under it and they are highly paid.
What is Skilled Labour?
Because a worker's labour for a day is wasted if he does not work on that day, and labour cannot be stored, labour is said to have this characteristic.
What is 'labour is perishable' (perishability)?
This great classical economist defined division of labour as 'a system whereby the operations necessary to make a finished product are so minutely divided that each worker performs one or at the most only a few operations.'
Who is Prof. Adam Smith?
In economics, only that work is treated as labour which is undertaken with this aim; work done simply to attain pleasure or happiness is not labour.
What is earning wage income (or a reward)?
Ramesh sings every evening at a theatre to earn his livelihood, while his sister sings the same songs at home purely for her own entertainment. Only one of these activities counts as labour in economics — identify whose
What is Ramesh's activity
Carpenters, weavers and goldsmiths — workers who have only a part of the professional training of their trade but sufficient experience in that line — belong to this category, and are paid comparatively less than skilled workers.
What is Semi-skilled Labour?
Unlike land and capital, which are passive factors of production and cannot produce anything on their own, labour is this kind of factor.
What is an active factor of production?
The concentration of textiles in Bombay (Mumbai), the jute industry in Bengal and the sugar industry in U.P. are examples of this type of division of labour, which occurs when production of certain goods takes place in a particular place or state.
What is geographical (or territorial) division of labour?
Rent is the factor payment made for land, while this is the factor income paid to labour.
What are wages (or salary)?
A farmer observes that his fields have stayed in the same village for generations, but the workers who till them keep moving to nearby cities and switching to construction jobs. His observation illustrates this key difference between land and labour.
What is 'land is immobile while labour is mobile' (labour can move from place to place and occupation to occupation)?
Weight lifting, construction work, agricultural work and domestic help are all examples of this type of labour, based on the physical work involved.
What is Manual (or Physical) Labour?
Labourers are not demanded directly for consumption like goods and services; they are demanded only when there is demand for the goods and services they produce. The demand for labour is therefore called this.
What is derived demand?
In the automobile industry, each component of a car is produced in a different process and is not directly passed on to the next process in a complete form until final assembly. This system is known as this.
What is the incomplete process of complex division of labour?
This economist believed that an increase in consumption encourages investment — cited under labour's importance as the primary source of consumption or demand.
Who is Lord Keynes?
Suresh is a highly skilled and intelligent machinist, yet his daily output is much lower than that of a less-skilled colleague in a rival factory. The only real difference is that Suresh's factory has given him outdated, old and worn-out machines. This factor affecting the efficiency of labour explains the gap.
What is machinery and equipment
Mental labour is divided into these two divisions — one requiring advanced study to acquire professional degrees, the other requiring special capability to supervise and direct.
What are Professional Labour and Administrative Labour?
The supply of labour cannot be increased or decreased within a day, month or year — it depends on the size of the population, and even skilled labour can be increased only in the long run. This describes this characteristic of labour supply.
What is the inelastic supply of labour?
Adam Smith illustrated that the manufacturing of a simple pin is divided into this many sub-processes.
Adam Smith illustrated that the manufacturing of a simple pin is divided into this many sub-processes.
What is eighteen (18)?
this is the most important natural cause of the low efficiency of Indian labour, since India is a subtropical country.
What is the hot climate?
A textile mill in a very hot region pays its workers poorly, so they are ill-fed and ill-clothed; every year, when the harvest begins, a large number of them return to their villages and remain absent from work. Identify any one the three causes of low efficiency of Indian labour present in this case.
What are hot climate, low wages, and the migratory character of Indian workers?
Managing directors, General Managers, IAS officers and principals of educational institutes — mental workers who have special capability to supervise and direct others — are included in this specific category of labour.
What is Administrative Labour?
Labour has less of this compared to the employer, for three reasons: labour cannot be stored, labourers are generally poor and accept low wages rather than go without work, and workers lack organisation due to illiteracy.
What is bargaining power (labour has less bargaining power)?
Adam Smith illustrated that the manufacturing of a simple pin is divided into this many sub-processes.
What is eighteen (18)?
What are (i) the size of the market, (ii) the attitude of workers, (iii) the nature of the product, and (iv) the availability of other factors of production?
In a cotton spinning mill, an American worker looks after 1200 spindles, a British worker 600, and a Japanese worker 240; an Indian worker is said to look after only this many.
What is 180 spindles?
Country X is blessed with vast mineral deposits and forests, yet remains economically backward because its workforce is neither sincere nor hard-working, and the resources lie unused. This case illustrates this point about the importance of labour.
What is utilisation of natural resources — the natural resources of a country remain underutilised in the absence of a sincere, dedicated, hard-working and intelligent labour force?