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GDP

We define lab...

Question

We define labour as human efforts used in production. Who gave this definition of labour?

A

Prof. Marshall

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B

Prof. Jevons

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C

S. E. Thomas

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D

Waugh

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Solution

The correct option is D Waugh
According to Waugh, “we define labour as human efforts used in production”, which means that labour is the totality of efforts of the workers in production of a good or a service.

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