Economics S.S.S 1 Second Term
Student should be able to:
- Explain the meaning of labour force, efficiency and mobility of labour force
- Factors affecting the size of the labour force
Definition of labour, market and labour market
Labour: This refers to all human efforts either skilled or unskilled directed towards the production of goods and services.
Market: This refers to a place or any means of communication whereby the sellers and buyers can exchange goods and services at prices determined by the market forces.
Labour Market: is defined as a market in which buyers and sellers of labour are in close contact during which the wages and other conditions of services are determined and agreed.... View More
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