Labour (economy): Difference between revisions

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In economic theory, '''labour''' is one of the three [[factors of production]]. The other factors are [[land]] and [[capital (economics)|capital]].
In the categorisation adopted for didactic purposes by the classical economists, '''labour''' is one of three [[factors of production]], the others being [[land]] and [[capital (economics)]].
 
Alongside [[land]] labour is also recognised by most(? Samuelson uses the phrase ''often called'', pp. 50) economist as a primary factor.<ref>Samuelson and Nordhaus ''Econoics'' (1989).</ref>
 
 





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In the categorisation adopted for didactic purposes by the classical economists, labour is one of three factors of production, the others being land and capital (economics).