WORK, SUBJECT OF LABOR MARKET TRANSACTIONS
WORK, SUBJECT OF LABOR MARKET TRANSACTIONS
Author(s): Roxana Mihaela PivodăSubject(s): Economy
Published by: Universitatea SPIRU HARET - Faculty of Accounting and Financial Management
Keywords: inputs; production factor; categories of players; workforce skills; wage
Summary/Abstract: Labor, the main production factor traded on the labor market, actually represents the essence of the functioning mechanism of this market. Labor was appreciated by Adam Smith as the unique source of wealth of the nations, and by John Maynard Keynes as the one that produces everything. In the factors of production system, work occupies the first and perhaps the most important place, due to the fact that thanks to it the combination and efficient use of the other factors of production are achieved.
Journal: Journal of Academic Research in Economics (JARE)
- Issue Year: 2011
- Issue No: 3
- Page Range: 503-511
- Page Count: 9
- Language: English
- Content File-PDF
