Engaging in a physical or mental activity that generally produces a product, good, or service.

A model that explains how employers set wages so that employees receive an economic rent (called employment rent), which provides […]

The number of people in the population of working age who are, or wish to be, in work outside the […]

In this market, employers offer wages to individuals who may agree to work under their direction. Economists say that employers […]

The combination of the real wage and the level of employment determined by the intersection of the wage-setting and the […]

The way in which employers looking for additional employees (that is, with vacancies) meet people seeking a new job.

Total output divided by the number of hours or some other measure of labour input.

Making greater use of labour as an input in production as compared with machines and other inputs. See also: capital-intensive.

Evidence that can be used to support a conclusion but is only available after the fact.

A method of market governance characterized by limited government involvement.