1) " Earning" -- As it applies to Earning In classical economics and all micro-economics labour isone of three factors of production, the others being land and capital. It is a measure of the work done by human beings. There are macro-economic system theorieswhich have created a concept called human capital (referring to theskills that workers possess, not necessarily their actual work), although there are also counterposing macro-economic systemtheories that think human capital is a contradiction in terms. Articles related to the Labor movement Child labor Labor in economics Labor history Labor law Labor rights Labor union Strike Edit this template ( http: en.wikipedia.org/w/wiki.phtml?title=Template:Labor&action=edit ) Compensation and Measurement The price of labour is called a wage, and the price of labour per period of time isreferred to as the wage rate. The two terms are sometimes used interchangeably. Other frequently used terms include: wage = payment per unit of time (typically an hour)earnings = payment per over a period (typically a week, a month, or a year)total compensation = Earninv s + benefitsincome = total compensation + unearned income economic rent = total compensation - opportunity cost Economists measure labour in terms of hours worked, total wages, or efficiency. Types of labour brain worker free-work manual labour slavery volunteer See also Economic rent Employment Human resources Human Resource ManagementSystems Labour economics Offshore outsourcing Profession Eatning ...
Common terms in this field are:
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