Meaning of labour

 Labour Meaning ( explained in detail about meaning of labour )

When you tries to find out the labour meaning you will get the different meanings with the different place and the the meaning gets change so the  labour meaning is also different than other subject .

meaning of labour economics

meaning of labour economics

In ordinary sense, labour  meaning is a physical work. But in economics the term “labour” has wider meaning. It doesn’t merely mean labour but includes mental labour as well as wok of teachers,doctors,engineers,lawyers etc.


According to R.G Lipsy and C.Harbury, “The term labour refers to all human resources that could be used in the production of goods and services.”

In economics, all kinds of human efforts are not termed as labour. Labour refers to only that form of human effort which is undertaken with a view to obtain wealth or to earn economic reward. The efforts made without any economic motive but simply to derive plessure is  not a labour. As for example, an woman working in social service, a boy is playing and a mother caring her child are not labour  because they do not get any reward for their work.

According to S.E Thomas, “Labour is all Human efforts of body or of mind which are undertaken in the expectation of reward. ” Hence, It is clear that labour includes both mental and physical work done with a view to earning income.  In other words, all the human activities mental or physical which are induced to earn money is known as labour in economics.

meaning of labour economics

characteristics of labour  ( labour meaning)

Labour as an active factor of production has several distinct characteristics. They are as follows:

1. Labour is indispensable

Labour is regarded as one of the indispensable factor of production. Production of any  types of goods and services is not possible without labour. It regarded as leading factor to Mobilize rest of the factors in the production process. Thus, it is the most active and essential factor of production.

2. Labour is peribshable

Labour cannot be stored for future use. It is lost forever with passing of time. If a labourer doesn’t work on a particular day, the labour of that day is lost forever. The labour lost cannot be regained.

3.Labour is means as well as ends

Labour is not only the means of production but also its ends. It means that labourers not only help in the production of wealth, but the labourers are also the persons for the satisfaction of whose wants production is carried on.

4. Weak Bargaining power

Labourer has weak bargaining power because if the perishable nature of labour. Labour cannot be accumulated to sell in future when price is high. In general, labourers are illiterate and ill organized. Hence, They have weak bargaining power.

5. Labourer sells labour only not himself

Labour contains on the human body Which is known as labourer. A labourer sells his labourer not himsel. He sells labour for payment of wage. Labourers sell their skill or talent or physical Strength or experience in their job to produce any goods and services . No one will be ready to sacrifice Whole life for the cost wage and salary.

6. Differ in efficiency

Labourerr may have different working efficiency, skills and talents. Some of them may be highly efficient and some inefficient according to their education, experience and training. The amount of wages and salaries also differ on the basis of their working efficiency and skills.

7. Active factor of  production

Labour is an active factor of production. It mobilises all other factors of production such as land and capital. A labourer does not need the help of other to make him work.

8. Labour is less mobile

Labour has less mobility with the comparison of capital and organization because laourers are reluctant to part with their family, relatives and Homes.

some important Questions

1. What are the factors of production?

2. Explain the Characteristics of labour?

3.What is capital?  Explain its features.

4.What is allocation of resources ? Explain 

some more imporant chapters



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