NECO Economics 2024 Objective — Question 3
Question 3 of 50 from the National Examinations Council (NECO) Economics 2024 Objective paper, with the correct answer and a full explanation.
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Which of the following is not a feature of labour?
- A. A. It is an active factor of production
- B. B. It is highly mobile
- C. C. Its reward is wages or salaries
- D. D. Its efficiency depends on its sizeCorrect
Explanation
The efficiency of labour is an improvement in the service of labour which results in an increase in productivity and a decrease in the cost of production. Options A, B and C are all features of labour as a factor of production i.e labour efficiency does not depend on the size of labour.
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