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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.
Determine the industrial core of world economy The industrial core of world economy saw its level of material productivity and standards of living explode in the 19th and 20th
What are the three major types of unemployment? a) Frictional b) Structural and c) Cyclical unemployment. Cyclical unemployment is broadly spread by an economy durin
Working of IFC: The IBRD loans are available only to member-country governments or with the guarantee of member-country governments. Further, IBRD can only make a loan but it
is economics a positive science
The Short Run versus long Run - Short-run: Period of time in which the quantities of one or more production factors cannot be changed. These inputs are called as fi
show this in a pie chart age = under 20|number of people = 20.90
Marginal rate of technical substitution in the theory of production is similar to the concept of marginal rate of substituent to in the indifference curve analysis of consumer dema
demand curve
Q. What is Unit Labour Cost? Unit Labour Cost: How much an employer pays for labour needed to produce each unit of a good or service. Unit labour cost can be computed by dividi
Andrew has preference given by: u(x,y) = min{2x, 3y} The price for good x and good y are identical and equal to 4. At his optimal consumption bundle he achieves a utility of 90. W
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