What follows are answers to the question; what are the features of labor as factor of production.
What is Laboour?
Labor is a basic factor of production. That is, it is used to produce goods and services.
List of Features of Labour as a factor of production
Below is a list of features of Labour;
- Labour is perishable: It cannot be stored
- Labour is not separable from the labourer
- The quality of Labour is variable
- Labour is mobile: It Can move from one place to another
- Labor earns salary or wages
- Labour is a basic or primary factor of production
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