Which of the following is true for ILO?
1. It has played an important role in standardisation of labour laws across the countries.
2. A country needs to ratify ILO's convention in order to it becoming a law in the country.
3. Its conventions regulate different aspects of labour laws and are passed at different conferences.
A dispute has arisen regarding admission of membership of a union which is a registered and recognised trade union. Few workers had filed a joint application for membership of that union. The application was not considered because the application was not in accordance with the procedure laid down by the union. Aggrieved by this, the workers filed a complaint before the Registrar of Trade Unionsunder Section 28 (1-A). Which one among the following is competent authority to settle the issue?
Which of the following statements are true/ false?
1. With the decrease in wages, the opportunity cost of leisure decreases.
2. An income effect is associated with lower wages.
3. The market demand curve for a particular type of labour is the horizontal summation of the marginal revenue product of labour curves of every firm in the market for that type of labour.
4. The market supply of labour is the number of workers of a particular type and skill level who are willing to supply their labour to firm at different wages.
