Difference between revisions of "Labor"
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'''Labour''' is a term in [[economics]] that has two separate meanings: | '''Labour''' is a term in [[economics]] that has two separate meanings: | ||
| − | * | + | *labor is a [[factor of production]] consisting of hired workers whose efforts increase production. See: [[Labor force]] |
*labour consists of all personal services, including wage-workers, managers and the self-employed | *labour consists of all personal services, including wage-workers, managers and the self-employed | ||
Revision as of 23:08, February 5, 2024
Labour is a term in economics that has two separate meanings:
- labor is a factor of production consisting of hired workers whose efforts increase production. See: Labor force
- labour consists of all personal services, including wage-workers, managers and the self-employed
