Difference between revisions of "Labor"
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| − | + | '''Labor''' is a term in [[economics]] that has two separate meanings: | |
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| − | + | *labor is a [[factor of production]] consisting of hired workers whose efforts increase production | |
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| − | -- | + | *labor consists of all personal services, including wage-workers, managers and the self-employed |
| − | + | [[category:economics]] | |
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Revision as of 01:38, September 13, 2008
Labor is a term in economics that has two separate meanings:
- labor is a factor of production consisting of hired workers whose efforts increase production
- labor consists of all personal services, including wage-workers, managers and the self-employed