Discuss the characteristics of Labour ​

Some of the characteristics are:

1. Labour is original and indispensable factor of production

2. Labour is an active factor of production

3. Labour is perishable than any other commodity 4. Labour cannot be separated from the labourer and Others.

Characteristics

1. Labour is original and indispensable factor of production:

Labour is original and indispensable factor of production without it the work of production is not possible.

2. Labour is an active factor of production:

Land and capital are considered as the passive factor of production, because they alone cannot start the production process. Production from land and capital starts only when a man makes efforts. Production begins with the active participation of man

3. Labour is perishable than any other commodity:

Labour is more perishable than other factors of production. It means Labour cannot be stored. The Labour of an unemployed worker is lost forever for that day when he does not work.

4. Labour cannot be separated from the labourer:

Land and capital can be separated from their owner, but Labour cannot be separated from a labourer. Labour and labourer are indispensable for each other. For example—It is not possible to bring the ability of a teacher to teach in the school, leaving the teacher at home. The labour of a teacher can work only if he himself is present in the class.

Explanation:

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answer(d) encourage cooperation by improving the chances of mutually agreeable transactions;