Categories: Lesson Notes

SS1 Second Term Economics Lesson Note – Labour Market

The content is just an excerpt from the complete note for SS1 Second Term Economics Lesson Note – Labour Market. Check below to download the complete DOCUMENT

WEEK 6

TOPIC: LABOUR MARKET

Content

  1. Concept of Labour Force
  2. Efficiency and Mobility of Labour

Sub-Topic 1: Concept of Labour

  • Definition of labour

Labour can be defined as all human efforts of any kind, skilled or unskilled, mental or manual, directed towards the production of goods and services.

LABOUR FORCE

Labour Force may be defined as the total number of people available, capable and willing to supply the labour for the production of economic goods and services. It consists of those who have jobs or who are seeking for jobs in the labour market. They are normally found between the age brackets of 18 to 60 years.

EVALUATION

  • Define Labour
  • Explain the term “Labour Force”
  • Mention the age bracket of Labour of labour force

Sub-Topic 2 : Efficiency of Labour

Efficiency of labour may be defined as the extent or degree to which labour can be combined with other factors of production to yield maximum output. It relates to quality and skill of labour. Efficiency of labour can be measured in terms of the quantity of output which can be obtained from a given input of labour, if other variables are constant. If labour is efficient, the quality of goods and services produced will be high.

Factors determining efficiency of labour

  • Education and Training: The higher the level of education and training, the more efficient labour will be.
  • Level of technology: When the level of technology improves, it will have a positive effective on efficiency. e.g., introduction computer and accounting software will improve the work of an accountant.

To gain full access to the note: DOWNLOAD FILE

Sunday

Share
Published by
Sunday

Recent Posts

List of Universities Offering Veterinary Medicine in Nigeria

Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…

4 months ago

List of Universities Offering Anthropology in Nigeria

Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…

4 months ago

List of Universities Offering Sociology in Nigeria

Sociology is the scientific study of human society, culture, and behavior. It examines the social…

4 months ago

List of Universities Offering Social Work in Nigeria

Social Work is a profession dedicated to helping individuals, families, and communities to cope with…

4 months ago

List of Universities Offering Religious Studies in Nigeria

Religious studies is an academic discipline that explores the beliefs, practices, and history of various…

4 months ago

List of Universities Offering Public Administration in Nigeria

Public administration is the field of study and practice that focuses on the organization and…

4 months ago