GK
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Lack of mobility
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Homogeneous in nature
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Low degree of unionization rate
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High rate of absenteeism and labour turnover
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Detailed explanation-1: -Some of the characteristics are: 1. 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.
Detailed explanation-2: -Labour is Perishable: The labour power withheld once is lost forever and cannot be stored. It cannot be regained. A day without work is gone irrevocably. As there is no stock, the labourer has to sell his labour immediately irrespective of the price.
Detailed explanation-3: -1] Perishable in Nature. Browse more Topics under Theory Of Production And Cost. 2] Labour is Inseparable from the Labourer. 3] Human Effort. 4] Labour is Heterogeneous. 5] Labour has Poor Bargaining Power. 6] Not Easily Mobile. 7] Supply of Labour is relatively Inelastic.