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Question
Explain the following characteristic of labour:
Labour is perishable.
One Line Answer
Solution
If a worker does not work on a particular day, his labour for that day is wasted. Labour is thus, perishable. Labour cannot be stored.
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Characteristics of Labour
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Chapter 4: Factors of Production - QUESTIONS [Page 117]
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RELATED QUESTIONS
Read the following statements carefully and choose the correct alternative:
Assertion (A): Labour is perishable.
Reason (R): Capital is an active factor of production.
Briefly explain why labour is considered to be the means and end of production.
Explain the following characteristic of labour:
Labour can improve its efficiency.
