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From labs(“good”) + -ība. The original meaning of labība was 'property', 'riches', until the early 17th century. Cognate with Lithuanian regionalism labýba(“property, riches”). Compare the same semantic evolution in Lithuaniangėrỹba(“property, cereals”), from Lithuaniangẽras(“good”), and in Polishzboże(“cereal, grain”), previously "property, riches". [1]
