In every economic field the market of labour is affected by the demand and supply powers. The supply of labour is considered on the basis of population, different age groups, participation of sex ratio and their education. Supply of labour is related with that quantity and rate at which the labourers are ready to work. According to Rees following are [...]
Land is an indispensable but a passive factor production in economics. No production is possible without the use of labour. We cannot expect any production without labour i.e., why it is said to be an indispensable and active factor of production. Labour is one of the main factors which constitute the material foundation of society. In an economy, where agriculture [...]
Wages can broadly be divided into three categories—Living Wages, Minimum Wages and Fair Wages. Determination of wage rate is a basic problem of an organisation. This question is an important question from all points of view— economic, social, political, and moral. The central point of all the labour problems in an organisation is the wages and salaries. This question determines [...]