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

Elasticity of demand, Elasticity of Demand This is a measure of how re...

Elasticity of Demand This is a measure of how responsive the sales volume of goods is to changes in that product's price, equal to the marginal change in sales, divided by the

Explain nominal money supply and real money supply, What is main difference...

What is main difference between nominal money supply and real money supply?  Real money supply is the supply of real money in the economy. Real money is supplied considering th

Price floor and price ceiling, . Keep slope of supply constant and apply di...

. Keep slope of supply constant and apply different slopes of demand curve and then show what happens if control price impose. Similarly, keep demand curve constant and apply diffe

Production, when average product is decreasing, marginal product is?

when average product is decreasing, marginal product is?

Q=8L^1/2, what is the profit maximising quantity of L

what is the profit maximising quantity of L

Members quota in imf, Member's Quota in IMF  Quota represents the subs...

Member's Quota in IMF  Quota represents the subscription by a member country to the capital fund of the IMF. Quotas are fixed for each country, taking into account such factor

Determinant of price elasticity of supply, Assume there is a remote area in...

Assume there is a remote area in china with high population.The area is composed exclusively of apartments and is populated by low-income residents .The people tend to stay in that

Quantity demanded, What is the difference between change in quantity demand...

What is the difference between change in quantity demanded and change in demand

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