Discuss in groups and answer the following:

What is the meaning of labour?

Labour includes all the physical and intellectual efforts that are being made by the human for producing the goods. Labour results in the production of goods or services or both. It is the factor of input used in the production. It is very important because without the involvement of the very essential even the production process is capital intensive. Even the capital is introduced by the intelligence effort of human labour. Therefore labour plays a very crucial role in the production process.