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price of labour

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  • Labour power — (in German: Arbeitskraft , or labour force) is a crucial concept used by Karl Marx in his critique of capitalist political economy. He regarded labour power as the most important of the productive forces. Under capitalism, according to Marx, the… …   Wikipedia

  • Labour and Labour Legislation — • Labour is work done by mind or body either partly or wholly for the purpose of producing utilities Catholic Encyclopedia. Kevin Knight. 2006. Labour and Labour Legislation     Labour and Labour Legislation …   Catholic encyclopedia

  • labour economics — Study of how workers are allocated among jobs, how their rates of pay are determined, and how their efficiency is affected by various factors. The labour force of a country includes all those who work for gain in any capacity as well as those who …   Universalium

  • labour-market — In a labour market, human effort (or labour power) is made into a commodity, which is bought and sold under terms which in law are deemed to constitute a contract. The purchase and sale of formally free labour developed extensively with… …   Dictionary of sociology

  • price system — ▪ economics Introduction       a means of organizing economic activity. It does this primarily by coordinating the decisions of consumers, producers, and owners of productive resources. Millions of economic agents who have no direct communication …   Universalium

  • Labour economics — seeks to understand the functioning of the market and dynamics for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demanders of labour… …   Wikipedia

  • Price (surname) — Price is a patronymic name derived from the Welsh ap Rhys meaning son of Rhys . It is a common surname among those of Welsh ancestry. [An Etymological Dictionary of Family and Christian Names With an Essay on their Derivation and Import; Arthur,… …   Wikipedia

  • Labour law — concerns the inequality of bargaining power between employers and workers. Labour law (also called labor law or employment law) is the body of laws, administrative rulings, and precedents which address the legal rights of, and restrictions on,… …   Wikipedia

  • labour — la‧bour [ˈleɪbə ǁ ər] , labor noun [uncountable] 1. work involving a lot of physical or mental effort: • The garage charges £65 an hour for labour. • those involved in repetitive, unskilled manual labour (= work that involves using your …   Financial and business terms

  • Labour productivity — is defined by the OECD to be the ratio of a volume measure of output to a volume measure of input OECD Manual: “Measuring Productivity; Measurement of Aggregate and Industry Level Productivity Growth.” (2002) Volume measures of output are… …   Wikipedia

  • Labour market flexibility — refers to the speed with which labour markets adapt to fluctuations and changes in society, the economy or production.DefinitionIn the past, the most common definition of labour market flexibility was the neo liberal definition. This entailed the …   Wikipedia

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