Labour - JSS1 Business studies Lesson Note

Labour: Labour encompasses all human effort, both physical and mental, used in the production of goods and services. It includes the work done by individuals in various occupations and industries, ranging from manual laborers to skilled professionals. The quantity and quality of labor are influenced by factors such as education, training, skills, health, and motivation. Labour is a variable factor of production because its quantity can be adjusted in response to changes in production levels.