One cause of market failure is the immobility of factors of production. There are two main types of factor immobility, occupational and geographical immobility. Occupational immobility Occupational immobility occurs when there are barriers to mobility of factors of production between…

1] The mobility of labour helps in increasing efficiency and productivity of workers when workers move to occupations for which they are suited the best. 2] Mobility influences production of goods and services. Demand for goods and services does not…

Labour is usually firmly attached to a particular placeby a strong social background. Such attachments are in the form of friends, cultural groups, religion etc. A new place of work indicates a change in social environment, and readjustments are not…

Mobility of labour means movement of labourer/worker. Labour is geographically and occupationally mobile and land is geographically immobile but occupationally mobile thus labour is more mobile than land. However labour is less mobile than capital as it is attached to…

All countries do not possess the factors of production in different quantities and proportion i.e. factors of production are unevenly distributed. Most of the factors of production in most cases have alternative uses. In economics mobility of a factor of…

The growth of industries and the evolution of an industrial proletariat are comparatively recent in India. India has always been and still is a predominantly an agricultural country. The two important factors that have been responsible for rural stagnation in…

Free labour has a special meaning, and it has become an indispensable feature of the free enterprise, “laissez – faire” economic system that arose in the last quarter of the 18th century. The liberal economy philosophy that emerged with the…

Though free labour market is observed today, it has not always been so. For most of mans history, work has been organized in different ways. Slavery The oldest way in which one man performed labour for another was “slavery”, ie,…

The peculiar nature of labour is the fact that it involves the services of human beings and does not permit the economists to rely on normal tools of economic analysis. The economist must also examine the institutions such as employer…

Labour is a very important factor of production. Since land and capital cannot produce anything by themselves, their utilization largely depends on proper utilization of time and energy on the part of workers. Labour is capable of shouldering responsibilities, extending…