In this article we will discuss about:- 1. Meaning of Wages 2. Factors Determining Real Wages 3. Causes for Wage Differences 4. Types 5. Factors 6. Theories 7. Determination of Fair Wages for Workers 8. Money Wages and Real Wages. Meaning of Wages: Wages are the remuneration or reward for labour. There are two main […]
Wages: Meaning, Types, Factors, Theories and Determination
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Labour in Economics: Notes, Characteristics, Importance and Supply | Economics
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In this article we will discuss about:- 1. Meaning of Labour 2. Types of Labour 3. Characteristics 4. Labour- The Most Important Factor of Production 5. Entrepreneur—Special Type of Labour 6. Supply of Labour in an Economy 7. Division. Notes on Labour: Labour is the human resource of production. It indicates the aggregate of all […]
Division of Labour: Meaning, Types, Effects and Advantages
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In this article we will discuss about:- 1. Definitions of Division of Labour 2. Types of Division of Labour 3. Economic Effects 4. Advantages 5. Disadvantages 6. Conditions. Definitions of Division of Labour: “The system of distributing a particular type of job(s) to a particular type of worker is known as specialization or division of […]