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Factors of Production and their Rewards

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Type Definition Reward Land Labour Capital Enterprise All natural resources The physical and mental works of people All man made tools and machines All managers and organizers Rent Salary/Wage Interest Profit/Loss
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Factors Affecting Geographical Mobility of Labour

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Geographical Mobility of Labour refers to the movement of workers from one place to another place.  It depends upon; ·     cost of housing ·     cost of relocation ·     availability of social amenities ·     family ties etc
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Factors Affecting Occupational Mobility of Labour

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Occupational Mobility of Labour refers to the movement of workers from one occupation to another occupation. It depends upon; ·     the facilities for training and retraining ·     wage differentials ·     job security ·     future prospects ·     fringe benefits etc
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