SCHEME OF WORK FOR ECONOMICS.
Channels of Distribution
The nature of the Nigerian Economy
Money -meaning, characteristics and functions
Instruments of Business Finance
Concepts of Demand and Supply.
NOTE OF LESSON
Topic : Labour Market.
(a) Meaning of Labour Market.
(b) Meaning of Labour force and factors affecting the size of Labour force.
(c) Efficiency of Labour and ways by which efficiency of Labour can be improved.
(d) Mobility of Labour and types of mobility of Labour.
By the end of the Lesson, Students Should be able to:
(a) Differentiate between Labour Market and Labour Force and also demonstrate the link between the two .
(b) identify and explain the factors affecting the size of Labour Force.
(c) Enumerate the factors that determine the efficiency of Labour and also Mobility of Labour.
Important Concepts to look out for:
(i) labour (ii) market (iii) Vertical mobility of Labour (iv) Horizontal or lateral mobility of Labour (v) Occupational Labour mobility (vi) Geographical Labour mobility (vii) Labour force and Labour Market.
Students should read up Labour Market and answer the questions below
1(a). What is Labour Force?
(b) explain four(4) determinants of labour force.
2. explain the following terms:
(i) efficiency of Labour
(ii) labour market
(iii) mobility of labour
(iv) vertical mobility of labour
3. explain five (5) factors that determine the efficiency of labour
4. Why may labour as a mobile factor of production be unwilling to move?
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