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SS1: ECONOMICS - 1ST TERM

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  1. Introduction to Economics | Week 1
    3 Topics
    |
    1 Quiz
  2. Basic Concept of Economics | Week 2
    4 Topics
    |
    1 Quiz
  3. Basic Tools for Economic Analysis | Week 3
    8 Topics
    |
    1 Quiz
  4. Measure of Central Tendency | Week 4
    4 Topics
    |
    1 Quiz
  5. Theory of Demand & Supply I | Week 5
    5 Topics
    |
    1 Quiz
  6. Theory of Demand & Supply II | Week 6
    7 Topics
    |
    1 Quiz
  7. Theory of Production I | Week 7
    7 Topics
    |
    1 Quiz
  8. Theory of Production II | Week 8
    4 Topics
    |
    1 Quiz
  9. Basic Economic Problems of the Society | Week 9
    1 Topic
    |
    1 Quiz
  10. Economic System | Week 10
    4 Topics
    |
    1 Quiz



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Topic Content:

  • Definition of Labour
  • Types of Labour
  • Features of Labour
  • Importance of Labour

Definition of Labour:

Labour is the human effort combined to contribute towards efficient production. Labour may be physical, mental, skilled, or unskilled in the operation process which is usually for a reward. A labour-intensive strategy is used in overpopulated countries for production. 

Types of Labour:

There are different types of labour;

1. Skilled Labour: These are trained workers (labour) who have a relatively specialized type of training. They are trained for a long period of time (4 years or more to acquire skills with a certificate)

Examples are surgeons, teachers, lawyers, etc. The jobs of these workers are referred to as “White Collar Jobs”.

 

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