Work And Economic Life — Flashcards

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Labour is an act performed to achieve a particular goal where an individual exercises energy or effort to get economic benefit or material benefit. It is essential for leading one's life and is relate…

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Division of labour means work being done by people depending on their interests, tastes, abilities, age, expertise, skills and gender. For example, the cloth we wear is manufactured by the collective …

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Division of labour leads to specialization, where people achieve expertise, training and skills in particular fields. This helps people work in various fields and earn economic profit, leading to the …

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Work that provides wages, salary or any other material benefit is called 'paid work'. Examples include ploughing in fields, working in factories, teaching in schools, constructing buildings, and repai…

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Activities undertaken for self-satisfaction without material benefit are called unpaid work. These activities are done without any definite purpose but give mental satisfaction, like an artist paintin…

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Labour discrimination is inequality at work and in wages. Although both men and women work, men are often offered better jobs with higher responsibilities and remuneration, while women get lesser resp…

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The Central Government enacted the Equal Wages Act in 1976 to address the problem of women being paid less than men for doing exactly the same kind of work. This discrimination is gradually decreasing…

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Unemployment means inability to get work in spite of having proper age, ability and interest. Those who are willing to work but are denied an opportunity to do so are called unemployed. This has becom…