LabourLabour is human effort – phys

Labour
Labour is human effort – physical and mental – which is directed to the production of goods and services. But labour is not only a factor of production, it is also the reason why economic activity takes place. The people who take part in production are also consumers, the sum of whose individual demands provides the business person with the incentive to undertake production. For this reason when we are considering real-world economic problems it is necessary to treat labour somewhat differently from the other factors. There are social and political problems which have to be taken into account. For example, the question of how many hours per day a machine should be operated will be judged solely in terms of efficiency, output, and costs. The same question applied to labour would raise additional considerations of individual freedom and human rights.
It must be borne in mind that it is the services of labour which are bought and sold, and not labour itself. The firm cannot buy and own labour in the same way that capital and land can be bought and owned.
The supply of labour available to an economy is not the same thing as the number of people in that community. The labour supply is a measure of the number of hours os work which is offered at given wages over some given period of time. It is determined, therefore, by the number of workers and the average number of hours each worker is prepared to offer. Both of these features are subject to change and, at any moment of time, the will depend upon a number of things.
1. The size of total population. This is obviously very important because the size of the total population sets an upper limit to the supply of labour.
2. The age composition of the population. The age composition of a population takes accounts of the proportions in the different age groups. Two countries might have in the same total populations, but very different age compositions and hence very different numbers in the working age groups.
3. The working population. In many countries the minimum age at which a person may engage in full-time employment is legally controlled. In the UK this is now 16 years and the normal age for retirement is65 years (60 in the case of women). The age range 16 to 65 (or 60 years) covers the working population embraces all the people in these age groups.
The working population may be defined as the number of people who are eligible for work and offer themselves for employment.
4. The working week and holidays. The number of people who work (or are available for work) is an important determinant of the supply of labour, bit so is the average number of hours each person works. The supply of labour provided by 20 people working for 40 hours in the same as that provided by 40 people working 20 hours. Other things being equal, the shorter the working week, the smaller the supply of labour.
The gradual reduction in the working week has been accompanied by an extension of the annual holiday period. Again this amounts to a reduction in the supply of labour.
It must not be assumed, however, that a fall in the supply of labour implies a reduction in the output of goods and services. In spite of the decline in the average number of hours worked by each person, output per worker has continued of improved technology.
5. Renumeration. The relationship between quantity supplied and price is discussed at length later in this book, but for the time being it should be apparent that there will be a relationship between the amount of work offered and the price paid for that work. Generally speaking, when wage rates are relatively low, increases in wages will tend to lead to an increase in the supply of labour, but there comes a point when higher incomes make leisure more attractive. When incomes are relatively high, therefore high wage rates may reduce the amount of labour offered by the individual worker.

Результаты (английский) 2:

Labour
Labour is human effort - physical and mental - which is directed to the production of goods and services. But labour is not only a factor of production, it is also the reason why economic activity takes place. The people who take part in production are also consumers, the sum of whose individual demands provides the business person with the incentive to undertake production. For this reason when we are considering real-world economic problems it is necessary to treat labour somewhat differently from the other factors. There are social and political problems which have to be taken into account. For example, the question of how many hours per day a machine should be operated will be judged solely in terms of efficiency, output, and costs. Same question applied The labour would to raise additional considerations of individual freedom and human rights.
It must be borne in mind that it is the services of labour which are bought and sold, and not labour itself. Firm can not The buy and own labour in the same way that capital and land can be bought and owned.
The supply of labour available to an economy is not the same thing as the number of people in that community. The labour supply is a measure of the number of hours os work which is offered at given wages over some given period of time. It is determined, therefore, by the number of workers and the average number of hours each worker is prepared to offer. Both of these features are subject to change and, at any moment of time, the will depend upon a number of things.
1. The size of total population. This is obviously very important because the size of the total population sets an upper limit to the supply of labour.
2. The age composition of the population. The age composition of a population takes accounts of the proportions in the different age groups. Two countries might have in the same total populations, but very different age compositions and hence very different numbers in the working age groups.
3. The working population. In many countries the minimum age at which a person may engage in full-time employment is legally controlled. In the UK this is now 16 years and the normal age for retirement is65 years (60 in the case of women). The age range of 16 to 65 (or 60 years) covers the working population embraces all the people in these age groups.
The working population may be defined as the number of people who are eligible for work and offer themselves for employment.
4. The working week and holidays. The number of people who work (or are available for work) is an important determinant of the supply of labour, bit so is the average number of hours each person works. The supply of labour provided by 20 people working for 40 hours in the same as that provided by 40 people working 20 hours. Things being equal Other, the shorter the working week, the smaller the supply of labour.
The gradual reduction in the working week has been accompanied by an extension of the annual holiday period. This amounts to Again a reduction in the supply of labour.
It must not be assumed, however, that a fall in the supply of labour implies a reduction in the output of goods and services. In spite of the decline in the average number of hours worked by each person, output per worker has continued of improved technology.
5. Renumeration. The relationship between quantity supplied and price is discussed at length later in this book, but for the time being it should be apparent that there will be a relationship between the amount of work offered and the price paid for that work. Generally speaking, when wage rates are relatively low, increases in wages will tend to lead to an increase in the supply of labour, but there comes a point when higher incomes make leisure more attractive. When incomes are relatively high, therefore high wage rates may reduce the amount of labour offered by the individual worker.