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Difference between revisions of "worker"
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==See also== | ==See also== | ||
| − | *[[ | + | *[[economic rent]] |
| − | *[[ | + | *[[employment]] |
| − | *[[ | + | *[[human resources]] |
** [[Human Resource Management Systems]] | ** [[Human Resource Management Systems]] | ||
| − | *[[ | + | *[[labour economics]] |
| − | *[[ | + | *[[offshore outsourcing]] |
| − | *[[ | + | *[[profession]] |
| − | [[Category: | + | [[Category:Ethics]] |
| − | [[Category: | + | [[Category:Labor]] |
| − | [[Category: | + | [[Category:Economics]] |
| − | + | ||
==Credits== | ==Credits== | ||
*Article is adapted from [[wikipedia:worker]] under the terms of [[GNU FDL]]. | *Article is adapted from [[wikipedia:worker]] under the terms of [[GNU FDL]]. | ||
Revision as of 11:32, 10 August 2005
In classical economics and all micro-economics labour is one 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 theories which have created a concept called human capital (referring to the skills that workers possess, not necessarily their actual work), although there are also counterposing macro-economic system theories that think human capital is a contradiction in terms.
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Compensation and Measurement
The price of labour is called a wage, and the price of labour per period of time is referred 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 = earnings + benefits
- income = 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
See also
Credits
- Article is adapted from wikipedia:worker under the terms of GNU FDL.
