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Define labour. - Economic Applications

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प्रश्न

Define labour.

व्याख्या
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उत्तर १

Labour means the capacity to exert physical or mental effort for the purpose of producing a good or service.

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उत्तर २

Labour is another basic factor of production. In fact, land or any other factor, howsoever valuable is of little use unless labour is applied. By labour, we mean all types of human work, physical as well as mental, done with a view to earn income.

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उत्तर ३

By labour we mean the work (mental or physical) done by a person to earn money (i.e. wage income).

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पाठ 1: Factors of Production - Exercise [पृष्ठ ३१]

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