GK
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not a peculiarity of labour market?
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Worker can sell not only his own labour but also the labour of his fellow workers.
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The number of buyers is less than the number of sellers.
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Labour market is normally local in nature.
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Labour is less mobile.
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Explanation:
Detailed explanation-1: -In labour market the relationship between employers and employees is highly impersonal and unbiased. Hence workers cannot sell the labour of his fellow workers.
Detailed explanation-2: -Hence, the Strong bargaining power is not a characteristic of Labour.
Detailed explanation-3: -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.
Detailed explanation-4: -A social worker serving in an orphanage: He is not considered as labour as neither he performs ‘mental’ nor ‘physical’ exertion with a motive to earn money.
There is 1 question to complete.