ECO-The factors of production, page no 11-13

Factor mobility refers to the ability to move factors of production—labor, capital, or land—out of one production process into another. There are two types of mobility they are:

Geographical mobility: Geographical immobility refers to barriers people moving from one area to another to find work.

• Family ties and related commitments: By having family routines and traditions, it will help mould younger family members' sense of commitment and responsibility, and further shape a family's identity.

• Costs of living: he cost of living is the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time period.

  
  

Occupational mobility: Occupational mobility refers to the ease with which a worker can leave one job for another in a different field.

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