What are the Features of Labour as a factor of production? (Business Studies)

What follows are answers to the question; what are the features of labor as factor of production.

Understanding Features of Labour as a factor if production
Understanding Features of Labour as a factor if production/Photo of Men at Work by skeeze

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;

  1. Labour is perishable: It cannot be stored
  2. Labour is not separable from the labourer
  3. The quality of Labour is variable
  4. Labour is mobile: It Can move from one place to another
  5. Labor earns salary or wages
  6. Labour is a basic or primary factor of production

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