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Work, labor (labour in Commonwealth English), or an occupation or job is the intentional activity people perform to support the needs and desires of themselves, other people, or organizations. [1] In the context of economics , work can be viewed as the human activity that contributes (along with other factors of production ) towards the goods ...
Among developed countries, it is an important source of well-paying jobs for the middle class (e.g., engineering) to facilitate greater social mobility for successive generations on the economy. Currently, [when?] an estimated 20% of the labor force in the United States is involved in the secondary industry. [2]
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
It is sometimes hard to determine whether a given company is part of the secondary or the tertiary sector. It is not only companies that have been classified as part of a sector in some schemes, since governments and their services (such as the police or military), as well as nonprofit organizations (such as charities or research associations), can also be seen as part of that sector.
Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic analysis, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, economics computational models, financial ...
By 2031, most U.S. jobs will require some form of postsecondary education or training. 72% of jobs will require some sort of postsecondary degree and/or training by 2031, ...
Careers in agricultural economics require at least a bachelor's degree, and research careers in the field require graduate-level training; [23] see Masters in Agricultural Economics. A 2011 study by the Georgetown Center on Education and the Workforce rated agricultural economics tied for 8th out of 171 fields in terms of employability. [24] [25]
[1] [2] Because these labourers exist as parts of a social, institutional, or political system, labour economics must also account for social, cultural and political variables. [3] Labour markets or job markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers) and the ...
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