labor

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.

Competition is valuable. Don't give it away; instead, get paid to play. For example, if someone asks you to bid, merely to increase competition and with no intention of giving the product/service/deal to you, require sufficient compensation. They probably won't pay you an actual fee to participate, but you might be able to get bid preparation expenses, or a "last look" provision (in which you get the deal if you match the best price), or you might ask them to quote a price which you either accept or reject, or you might ask for a guaranteed contract at the bid price. When deciding how much compensation you deserve in order to bid, keep in mind these potential hidden costs: the labor involved in putting together the bid; the fact that the bid requester (and potentially your competitors and customers) will learn what you're willing to pay; and the chance that your existing customers will want a better deal.

• The Importance of Property in the World