ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -It is categorized as a human resource.

Detailed explanation-2: -: a person employed in the automobile manufacturing industry.

Detailed explanation-3: -What are the four types of labor in economics? The four types of labor in economics are skilled, unskilled, semi-skilled, and professional. Together, these four types of labor make up the active labor force.

Detailed explanation-4: -The market theory of wage determination aims to explain the discrepancies in income that a lot of different individuals get through worker’s abilities. According to this theory, the pay or salary of a worker is determined by the supply and demand for the worker’s abilities and services in the market.