What is meant by labor force, Microeconomics

Assignment Help:

What is meant by labor force? 

 In economics the labor force is the group of people who have a potential for being employed. Normally, the labor force having of everyone above a certain age (around 14 to 16) who is participating workers, that is people actively employed or seeking employment. People not counted include students, retired people, stay-at-home parents, people in prisons or same institutions, as well as discouraged workers who simply do not require work. 

 


Related Discussions:- What is meant by labor force

Define the production terminology in short, Define the production terminolo...

Define the production terminology in short. Production Technology: Production is the procedure of transforming inputs to outputs. Characteristically, inputs consist of labor

Short notes, Amartya Sen''s concept of poverty and welfare.

Amartya Sen''s concept of poverty and welfare.

Advocacy of globalisation, Advocacy of Globalisation: In support of th...

Advocacy of Globalisation: In support of the movement for globalisation, the following arguments are put forth: i) Globalisation promotes foreign direct investment and, thu

Market structures, illustrate and discuss the implications of various marke...

illustrate and discuss the implications of various markets structures(competitive and non-competitive) for price dertimation

Policies for social infrastructure development, POLICIES FOR SOCIAL  INFRA...

POLICIES FOR SOCIAL  INFRASTRUCTURE DEVELOPMENT: The origin of official policies for social infrastructure development is the National Policy of Education, 1986 for the develo

Sales revenue maximization model , What are the major differences between t...

What are the major differences between the equilibrium of profit maximiser and sales revenue maximiser?

What main features are found in oligopolies, What main features are found i...

What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg

.economic regulation, are most local phone companies natural monopolies?

are most local phone companies natural monopolies?

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd