What is role of labour?
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Labour is a human factor and the main source of consumption. Utility is created (Production) for the satisfaction of his needs. ... When investment increases, income increases which leads to increase in consumption. The basis of this consumption is labour.
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- Labour is a basis of not only consumption and production, but also it serves as a basis of exchange. A man needs so many commodities to fulfill his daily needs. He cannot produce all of them. He has to satisfy his needs by exchanging his surplus production with others.
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