Difference between revisions of "Labor"
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| − | Labor is a term in [[economics]] that has two separate meanings: | + | '''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 is a [[factor of production]] consisting of hired workers whose efforts increase production | ||
Revision as of 04:54, November 5, 2007
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