What is labor in economics

Social Studies

1 answer:

zhannawk [14.2K]3 years ago

7 0

Answer:

Labor definition

Explanation:

Labor is the amount of physical, mental, and social effort used to produce goods and services in an economy. It supplies the expertise, manpower, and service needed to turn raw materials into finished products and services. In return, laborers receive a wage to buy the goods and services they don't produce themselves.

Hope this helps!

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