GK
BUSINESS ECONOMICS
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Demand for a product
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Productivity of labour
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Migration
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Availability of substitutes
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Detailed explanation-1: -An Overview of the Factors Affecting the Supply of Labour Working conditions; Human capital, skills, experience and education and training levels; Occupational and geographical mobility of labour; and. The participation rate.
Detailed explanation-2: -Demographic and economic factors Demographic and economic migration is related to labour standards, unemployment and the overall health of a country’s’ economy. Pull factors include higher wages, better employment opportunities, a higher standard of living and educational opportunities.
Detailed explanation-3: -Uneven development is the main reason of migration along with factors like poverty, landholding system, fragmentations of land, lack of employment opportunities, large family-size and natural calamities.
Detailed explanation-4: -Understanding the Labor Market Relevant measures include unemployment, productivity, participation rates, total income, and gross domestic product (GDP).