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QUESTION 1 Given that you are an economist working with Carp farm on labor supply calculations....

QUESTION 1 Given that you are an economist working with Carp farm on labor supply calculations. Assume there are 15,000 persons capable of working 8 hours a day. Out of these, 10,000 are men with 1 man-day productivity, 3,000 are women with 0.8 man-day productivity and 2,000 are children with 0.5 man-day productivity.

i. Calculate labor supply for Carp Farm.

ii. Assume the average number of leavers per year at Carp Farm is 25 persons while the average number of employees per year is 80 persons. Calculate labor turnover for the farm.

iii. Explain any two internal causes of labor turnover.

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Homework Answers

Answer #1

Total people =15,00p

No of men=10000

No of women=3000

No of children=2000

1 Man day productivity =8 hours

Ans a) Labor supply=10000*(1 man day productivity)+3000*(0.8*man day productivity)+2000*(0.5 man day productivity)

=10000*8+3000*(0.8*8)+2000(0.5*8)

=80000+19200+8000=107200 hours

Ans b) Labor turnover = average no of leavers/average no of employees   
= 25/80=0.3125

Ans c) Internal cause for labor turnover includes high stress,poor working conditions,loose organisation practices

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