human effort put towards producing goods and services
Naturally we think labor is made up of employees in factories working long hours each day. But, labor is put in force everywhere. For example, at McDonalds a worker can work at the cash register to make profit for their company.
Labor is a part the constant ebb and flow of the economy.
Examples of Labor
- A teacher working on grades with a time limit.
- A construction worker building a skyscraper
- A librarian shelving books
- A student helping in Student Council