DEFINITION OF LABOUR, MARKET AND LABOUR MARKET
LABOUR MARKET. DEFINITION OF LABOUR, MARKET AND LABOUR MARKET. Market on the other hand is defined as a place or any means of communication whereby the sellers and buyers can communicate
what is labour
Labour can be defined as all human efforts of any kind, either skilled or unskilled, mental or manual, directed towards the production of goods and services.
what to understand about market arena
Market on the other hand is defined as a place or any means of communication whereby the sellers and buyers can communicate with one another, to exchange goods and services at prices determined by the market forces.
12.1 PERFORMANCE OBJECTIVES
At the end of this, students should be able to:
- Demonstrate the link between the growth and structure of population and the growth of the labour force.
- Identify and explain the other factors that affect the size of the labour force
what is labour market
Labour market is defined therefore as a market in which buyers and sellers of labour are in close contact during which the wages and other conditions of services are determined and agreed upon. Labour is the factor of production which is usually bought and sold in the market.
- price equilibrium
- scale of preference
- concept of economics
- economic tools for nation building
- factors affecting the expansion of industries
- mineral resources and the mining industries