Search results
Results From The WOW.Com Content Network
Human-hours worked per week in the United States Labor is supply, money is demand. A man-hour or human-hour is the amount of work performed by the average worker in one hour. [1] [2] It is used for estimation of the total amount of uninterrupted labor required to perform a task.
Man-hour rate – the amount of man-hours which are consumed executing one unit of work activity. Man-hour rate = man-hours required for work / completed work quantity. Example: Excavation 0.125 mh/cy. The man-hour rate is related to the inverse of the production rate times the number of workers in the crew performing the work.
The wage unit is a unit of measurement for monetary quantities introduced by Keynes in his 1936 book The General Theory of Employment, Interest and Money (General Theory). [1] A value expressed in wage units is equal to its price in money units divided by the wage (in money units) of a man-hour of labour.
The present value of $1,000, 100 years into the future. Curves represent constant discount rates of 2%, 3%, 5%, and 7%. The time value of money refers to the fact that there is normally a greater benefit to receiving a sum of money now rather than an identical sum later.
The divergence between total product-values and total production prices on the whole was, Marx believed, probably not so very large, in an open, competitive market within the domestic economy, where enormous price-value discrepancies were ordinarily impossible to maintain commercially for any length of time. [122] A measuring unit of value can ...
“A lot of the time, the work is given in small chunks that can be finished in an hour. Proofreaders can make anywhere from $15 to $30 an hour, depending on how fast and well they do their job ...
Labor-time calculation is a method of economic calculation that uses labor time as the basic unit of accounting and valuation. This method of calculation was advocated by the economists Otto Bauer , Helene Bauer and Otto Leichter [ de ] as an alternative to calculation in kind for a socialist economy. [ 1 ]
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!