TERM OF THE DAY labor The aggregate of all human physical and mental effort used in creation ofgoods and services. Labor is a primary factor of production. The size of anation's labor force is determined by the size of its adult population, and the extent to which the adults are either working or are prepared to offer their labor for wages. Learn more about this term Usage Example The process of building the new factory was extremely expensive and labor-intensive, quite a large workforce was needed for the project.

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