Cost of Labor vs. Cost of Living While the cost of labor refers to the sum of all wages paid to employees, it should not be confused with the cost of living. The cost of living is the cost needed to maintain a certainstandard of livingby a consumer in a specific geographic location. ...
Define labour market. labour market synonyms, labour market pronunciation, labour market translation, English dictionary definition of labour market. labour market. Translations. English: labour market labor market n mercato del lavoro. German / Deutsch:
Opportunity cost:the best alternative forgone as a result of making choice. Positive and normative statements Positive statement:based on facts; right/wrong can be proven. Normative statement:based on opinions; value judgement cannot be tested....
The commonly used definition of average labour value, based on the sum of labour time directly used to produce a commodity and all its components is shown to be nave and indeed false. The definition of labour value has to be conforming to the definition of cost. This implies that the ...
Synonym(s): labour. [L. toil, suffering] Medical Dictionary for the Health Professions and Nursing © Farlex 2012 Labor The process during which the uterus contracts, and the cervix opens to allow the passage of a baby into the vagina. Mentioned in: Placenta Previa, Placental Abruption Gal...
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First recorded in 1250–1300;Middle Englishlabour,fromOld French,fromLatinlabōr-(stem oflabor) “work” Discover More Example Sentences In just one week out of the last 23—dating all the way back to March—weekly jobless claims have come in above 1 million, adding to the carnage in the ...
The meaning of SUCCEED is to come next after another in office or position or in possession of an estate; especially : to inherit sovereignty, rank, or title. How to use succeed in a sentence. Synonym Discussion of Succeed.
Consumer price index(CPI):is a measure of the weighted average of price of a basket of goods and services purchased by households excluding the cost of housing. GDP deflator:nominal GDP/real GDP x100 inflation. Deflation:a fall in the ge...
Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! Merriam-Webster unabridged Popular in Grammar & Usage See All Point of View: It's Personal Plural and Possessive Names: A Guide What's the difference between 'fascism' and 'socialism'?