| Labour |
Entrepreneur |
| (i) Any physical or mental effort undergone during the production process to earn a reward is called labour. |
(i) Entrepreneur is the organiser who coordinates all factors of production. He is regarded as a captain of the industry. |
| (ii) Labour earns ‘Wages’ as a factor reward. |
(ii) Entrepreneur enjoys ‘Profit’ as a factor reward. |
| (iii) Earnings of labour are certain, fixed, and always positive. |
(iii) Earnings of an entrepreneur are uncertain, fluctuating, and not always positive. |
