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Define Or Explain the Following Concept: Labour - Economics

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Question

Define or explain the following concept:

Labour

Short/Brief Note
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Solution

Labour refers to the people who actually use the land and capital to produce goods. It includes all physical and mental efforts of workers, employees, managers etc. In other words, the exertion by the human body and mind, with the objective of earning a living, is known as labour.

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Chapter 7: Factors of Production - Exercise 2 [Page 60]

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Micheal Vaz Economics [English] 12 Standard HSC
Chapter 7 Factors of Production
Exercise 2 | Q 1.3 | Page 60
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