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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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Common Barriers to Occupational Mobility of Labour

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Barriers to Occupational Mobility of Labour ·     Lack of natural abilities ·     Lack of qualification ·     Cost and length of training ·     Discrimination ·     Ignorance of available job opportunities Ways to increase Occupational Mobility of Labour ·     By providing training and retraining ·     By organizing job centers
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