labour

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labour

the human input to work activity. See JOB, CAPITAL.

labour

the contribution to productive activity made by the workforce both by hand (for example, the assembly of a car) and mentally (for example, devising a stock-control system). Labour is one of the three main FACTORS OF PRODUCTION, the others being NATURAL RESOURCES and CAPITAL. See alsoECONOMIC GROWTH, HUMAN CAPITAL.