Factors governing supply of labor
The labor supply is the total hours that workers wish to work at a given real wage rate. The supply of labor is affected by numerous factors.
(1) Density of rural population: The thickly populated areas have ‘a large number of labor supply for farm work than areas having low density of population.
(2) Health:health, physical development and deficiency in work influence considerably the total supply or labor.
(3) Wages: The wages of labor influence the labor supply. High wages always attract the labor.
(4) Personal interest of labor: The labor prefers to work of their own interest and preference.
(5) Security: If any farm provides more regular employment and job security than others, the labor will have the preference for the farm.
(6) Mobility: The mobility of labor gives opportunity to seek profitable employment outside then village. For this reason labor supply will be affected in village.
