Question

Explain any three benefits of efficiency of labour.

Answer 1

Benefits of Efficiency of Labour

1. The quantity and quality of output produced by a worker increases.
2. Producer gets an opportunity to raise his/her income and hence the standard of living.
3. The time spent by a worker in producing that product reduces.
4. More efficient workers are able to earn more income in the form of wages.
5. An income in efficiency of labour reduces cost of production, thus efficient labour force is an important economic ingredient.