How does Adam smith define labor?

Answer 1

Adam Smith defines labor as the effort or work performed by individuals to produce goods and services. In his seminal work, "The Wealth of Nations," he emphasizes that labor is the primary source of a nation's wealth, as it contributes to the production of value. Smith also highlights the division of labor, where specialization enhances productivity and efficiency, ultimately benefiting society as a whole. Thus, labor is not just a physical activity but a fundamental component of economic development and prosperity.