Importance of labour as factor of production

Phabbyfundz

Active member
For any business or company to thrive well and see that taste surrounding the company or business is carried out well and with efficiency,the problems of lab our must be checked.
Labour as we know it to be is the work force of every business or company, labour includes technical laborers those who are in charge of production for a company, even those who serve as staffs to check the activities carried out in the business or company, these staffs include clerical staffs, security officials, accountants,auditors, computer analysts, researches and so on.
A good company or business cannot run without the availability of this staffs, so before you start any business you must first make available the labour, you must also know the kind of labor your company need and find ways to make that labor available to your company or business
 

Kaffyfolla

New member
abour is the living factor of production. It is the only factor that can work and start the production . Labour uses land and capital for production, therefore, labour works as an active factor of production used for producing the final product.
 

AfriPeeps Official

Active member
Yeap, but employers need to start treating their workers right, they all need to understand and realize that there is not company without employees as you cannnot do all the labor work alone, no man is an island, so they should take good care of their workers, pay them well and never cheat them, workers too should be loyal to their bosses.
 

Abigael

Valued Contributor
That is true. Labour is a very important factor of production in a business. Especially a large scale business with many duties to be carried out. You cannot be able to do it alone. Well, for a small business, you may not need much labour. But in a big one, you will have to employ people.
 

Alexandoy

VIP Contributor
In our Economics subject in college I remember the 3 elements of an industry which are Land, Labor and Capital. Without any of the 3 you cannot establish a business. Now Land includes the website. With labor that is the staff that works for the business whether it is small scale or large scale. The operation will not move by robots or computers alone. You need people.
 
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