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  • MBA HR Sem-II Labour Economics Key Concepts

    Diunggah oleh

    Aman Monty
    198 tayangan12 halaman
    This document provides an overview of labour economics. It defines labour economics as studying the labour market, labour problems, and effective utilization of human resources for human welfare. Some key points covered include: - Labour refers to both mental and physical human effort undertaken with the expectation of rewards. - Characteristics of labour include being inseparable from its owner and perishable. Labour has weak bargaining power and an inelastic supply. - Labour economics examines issues like wage determination, trade unionism, employment, unemployment, and labour legislation. - The document outlines several factors that have contributed to the growth of labour problems in India such as population growth and the decline of rural industries.

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    Labour Eco I

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    This document provides an overview of labour economics. It defines labour economics as studying the labour market, labour problems, and effective utilization of human resources for human welfare. Some key points covered include: - Labour refers to both mental and physical human effort undertaken with the expectation of rewards. - Characteristics of labour include being inseparable from its owner and perishable. Labour has weak bargaining power and an inelastic supply. - Labour economics examines issues like wage determination, trade unionism, employment, unemployment, and labour legislation. - The document outlines several factors that have contributed to the growth of labour problems in India such as population growth and the decline of rural industries.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai PPT, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    198 tayangan12 halaman

    MBA HR Sem-II Labour Economics Key Concepts

    Diunggah oleh

    Aman Monty
    This document provides an overview of labour economics. It defines labour economics as studying the labour market, labour problems, and effective utilization of human resources for human welfare. Some key points covered include: - Labour refers to both mental and physical human effort undertaken with the expectation of rewards. - Characteristics of labour include being inseparable from its owner and perishable. Labour has weak bargaining power and an inelastic supply. - Labour economics examines issues like wage determination, trade unionism, employment, unemployment, and labour legislation. - The document outlines several factors that have contributed to the growth of labour problems in India such as population growth and the decline of rural industries.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai PPT, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 12

    MBA HR Sem-II

    Labour Economics

    Meaning

    In common language labour refers to exertion involved in carrying out some work. Meaning of Labour in Economics:For one thing, labour in Economics refers to the work done by human being only. Secondly, labour must be associated with production Thirdly, Labour can be mental or intellectual as well Finally, labour involves active participation and initiative

    Definition

    According to S.E. Thomas, Labour consists of all human efforts of body or mind, which are undertaken in the expectations of Rewards. According to Dr. Alfred Marshall, Labour is any exertion of mind or body undergone partly or wholly with aview to some good other than the pleasure derived directly from the work.

    How Labour is defined in Economics


    Human Efforts Mental & Physical Expectations of Rewards Inherited & Acquired Pleasure of work

    Characteristics of Labour
    Inseparable from owner The Labourer Sells Labour, Not Himself Labour is Perishable Labour is Heterogeneous Labour has weak Bargaining Power Inelastic Supply Less Mobile Active Factor Human Factor

    Labour Problems

    Types of Labour Problem Individual Problems:- Employer-Employee Relationship General Problems:- the purchase, sales and performance of labour services

    Labour Economics concern with labour market and allocation, utilization and conversation of manpower. Labour economics universally deals with wage determination, trade unionism, principles governing legislation, social aspects of Labour employment and unemployment

    Factors involved in the Growth of Labour Problems in India


    1.

    2.
    3. 4. 5. 6. 7. 8. 9. 10.

    Declining Importance of Agriculture System of Labour Tenure Sub-division and Fragmentation of Holdings High Rate of Population Growth Social Disparity and Diversity Regional Imbalance in Development Socio-culture factors Decline of Rural Industries Lack Of State Support Policy Failure

    Definition of Labour Economics

    According to D.R Leiter the characteristic of Labour market, with the classification and analysis of labour problems and with the development and role of trade unions. Prof. C.N Vakil views Studies the condition of the effective utilization of human resources in relation to other resources in the growing economy with regards to human welfare.

    Labour Economics deals with.


    Human Resource Application, Utilization and Conservation Efficient or Effective Utilization Labour Market Labour Problems A Modern Society Human Welfare

    Scope of Labour Economics

    The Institutional Frame work of the Economic System Labour market Labour Problems Labour as a Factor The Problems Related to Wage Employment Theory Principles and Practices of Labour Welfare

    Limitations of Labour Economics


    Changing Approach Theoretical Boundaries Problem Orientation

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