labor
Definition
One of the factors of production, it is the aggregate of all human physical and mental effort used in creation of goods and services. The size of a nation's labor force is determined by the size of its adult population, and the extent to which the adults are either working or are prepared to offer their labor for wages. More recently, knowledge (know how) has come to be regarded as distinct from labor.
Mentioned in these definitions
Mentioned in these terms
Popular 'Accounting & Auditing' Terms
labor in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/labor.html
