Economic Literacy
Economic Literacy: 'Absolute Advantage'
Absolute advantage is the ability of a country, individual, company or region to produce a good or service at a lower cost per unit than the cost at which any other entity produces that same good or…
O Level
05 Ways to Improve Geographical Mobility of Labour
For development to take place, we require the labour force to become more mobile so that they can respond to labour market needs more faster. · By providing more employment opportunities · B…
O Level
05 Ways to Improve Geographical Mobility of Labour
For development to take place, we require the labour force to become more mobile so that they can respond to labour market needs more faster. · By providing more employment opportunities…
O Level
06 Barriers to Geographical Mobility of Labour
Travelling from one place to another, to get employed, is not an easy job. These are some of the major barriers to geographical mobility of labour. · Climate condition · Lack of emplo…
O Level
06 Barriers to Geographical Mobility of Labour
Travelling from one place to another, to get employed, is not an easy job. These are some of the major barriers to geographical mobility of labour. · Climate condition · Lack o…
O Level
Factors Affecting Geographical Mobility of Labour
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 amenit…
O Level
Factors Affecting Geographical Mobility of Labour
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…
O Level
Common Barriers to Occupational Mobility of Labour
Barriers to Occupational Mobility of Labour · Lack of natural abilities · Lack of qualification · Cost and length of training · Discrimination · Ignorance of available job opportu…
O Level
Common Barriers to Occupational Mobility of Labour
Barriers to Occupational Mobility of Labour · Lack of natural abilities · Lack of qualification · Cost and length of training · Discrimination · Ignorance of avail…
O Level
Factors Affecting Occupational Mobility of Labour
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 dif…
O Level
Mobility of Labour
Mobility of labour refers to the movement of workers between firms, industries and regions in response to pay differentials and employment opportunities. There are two types of mobility of labo…
O Level
Factors Affecting Efficiency of Labour
Efficiency of labour refers to the capacity of workers to work per unit of time. Efficiency of labour depends on; · education and training · working condition · the quality of…
Supply of Labour
Factors Affecting Supply of Labour
Supply of labour refers to the number of hours worked by workers. It depends on; · the total population · the working age group · the working population · the wage rate�…
O Level
Features of Labour
The word ‘labour’ means human efforts of all types – manual and non manual, skilled and unskilled. Labour refers to human input to work activity. Features of Labour · Labour is a …
O Level
Features of Land
Land can be described as all natural resources. It includes; · the natural fertility of the soil · the minerals in the earth’s surface and · forests, rivers and the riches in …
Private Limited
Difference Between Partnership Firms and Limited Companies
Partnership 1. Ordinary partners have unlimited liability 2. Limited to 20 partners 3. It is regulated by Partnership Act 1890 4. It is not a…
O Level
Factors of Production and their Rewards
Type Definition Reward Land Labour Capital Enterprise All natural resources The physical and mental works of people All man made tools and machines …
Partnership Firm
Features of Partnership Firms
A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-base…
Soletrader
Basic Features of Sole Proprietorship
A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinctio…
O Level
Difference Between Consumer Goods and Capital Goods
Economic goods are divided into two. They are consumer goods and producer (capital) goods. i) Consumer Goods Ø They directly satisfy human wants Ø They are used for final consump…
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