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How would flexibility in labour laws help companies? - Social Science

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Question

How would flexibility in labour laws help companies?

Answer in Brief

Solution

Flexibility in labour laws will help companies in being competitive and progressive. By easing up on labour laws, company heads can negotiate wages and terminate employment, depending on market conditions. This will lead to an increase in the company’s competitiveness.

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Concept of Globalization and Factors
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Chapter 4: Globalisation and the Indian Economy - Exercises [Page 72]

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NCERT Social Science (Economics) - Understanding Economic Development [English] Class 10
Chapter 4 Globalisation and the Indian Economy
Exercises | Q 3 | Page 72
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