![]() Hence capital has also mobility for bringing changes in volume of production. Additional money capital entering into the market may be transferred to the industries which have chances for development. But the capital goods are used for producing different types of goods and services. Additional labor force which migrates to towns in search of jobs may be employed in new industries without any difficulty.Īnother two types of factors of production in economics are-Ĭapital - mobility: When compared to labor, capital has less mobility. So naturally the laborers will have the inclination of mobility for bringing changes in production. Normally new industries require less number of laborers. Invention of new machinery and their use in industries spread of education among the laborers, provision of training and reorientation courses by the government etc., lead to the increase in the occupational factors of production. ![]() The reason is that it requires excellent knowledge, technological efficiency and experience and dynamism. c) Occupational mobility: Occupational mobility is somewhat difficult.b) Horizontal mobility: Horizontal mobility implies the desire of the laborers for moving from one industry to the other in the same place and in the same occupation. ![]() We observe the fact that doctors, engineers and other technocrats of India have been migrating to the advanced countries for want of better salaries and facilities. Geographical mobility may be international or national or regional. are responsible for the geographical mobility of factors of production. Several factors like improvement in the means of communication and transport, education and literacy programmes, attachment to motherland, linguistic feelings etc. All the inputs are classified into two groupsprimary inputs and secondary inputs. For example, for producing wheat, a farmer uses inputs like soil, tractor, tools, seeds, manure, water and his own services. Whatever is used in producing a commodity is called its inputs.
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