Chapter - 2
Pg - 8
Relating mobility in terms of factors of production talks about the ability to move, it can be anything but moving skill, thus we are gonna discuss about the ability of shifting factors of production
In factors of production there could be any type of mobility, like labor mobility, factor mobility and etc
Example -: We have farms in certain cities depended on labor thus having more mobility on them while in cities or other places farming might depend on capital resources as they will have higher mobility
The 2 types of labor mobility are geographical mobility and occupational mobility
Geographical Mobility
Geographical mobility talks about the willingness of worker to transform from one place to another for working purposes, some of the workers might not adapt with the workplace which can cause problems to their living
Some of the people may not want to relocate due to their close ones and family as they might get away from them due to employment purposes
Sometimes the cost of living matters as some places charge a really high cost of living that may not be affordable by the workers
Occupational Mobility
Occupational mobility talks about the change of jobs as this is really big change due to the change in come, environment and experience needed for the work
Occupational Mobility is of the important labor mobility
What are the barriers to the mobility of capital?
How does technological advancement impact the mobility of factors of production?
What role do government policies play in the mobility of factors of production?
How does the mobility of factors of production influence global trade?
What are the effects of immobility of factors of production on an economy?
How can countries improve the mobility of their factors of production?