Labour:

Labour is the human resource used in production. It is human effort exerted in production. Hardly can production go on without labour. Labour can be skilled, meaning specialized intellectual or mental knowledge used in production. It can also be unskilled, meaning physical or manual work undertaken by individuals in production. The reward or the price paid to hire labour is wage or salary.

Labour is both geographically and occupationally mobile and it is impossible to separate both the ownership and use of labour. The supply of labour depends on the size of population which in turn depends on birth rate, death rate and level of migration.