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Category: Labor
Labor refers to the physical and mental effort that people exert to produce goods and services. It encompasses a wide range of activities, from manual work to skilled professions. In economics, labor is one of the primary means of production, alongside land and capital. It includes not only the workforce itself but also the processes involved in managing and utilizing human resources. Labor can be categorized into various types: unskilled, semi-skilled, and skilled labor, depending on the level of training and expertise required. It is influenced by factors such as market demand, individual skills, and the economic environment. Labor also has social and political dimensions, as it pertains to the rights and conditions of workers, labor laws, and the organization of work through unions and other collective efforts. Overall, labor is essential for economic activity and social development.