economics: section 3.3
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7 Terms
1
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labor
any work that contributes to the production of goods and services
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cost of labor
most of the price we pay for good pays for the labor used to make it
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labor
fill in the blank
with the cost of labor, _____ is usually the most expensive factor
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prosperity
fill in the blank
labor results in _________ for a nation
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free labor
free people will work harder and more efficiently than people who aren’t free
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financial rewards
fill in the blank
in a free society, labor will result in _________ ________ for the individual
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productivity
measure of how efficiently resources are employed
Note 
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