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.
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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