Question

______ refers to the number of persons actually working or willing to work. It is not related to the wage rate.

Options

• Labour Force

• Work force

• Both Labour Force and Work force

• None of the above

Answer 1

Labour Force refers to the number of persons actually working or willing to work. It is not related to the wage rate.

Explanation:

1. It refers to the number of people that are now employed or willing to work. It has nothing to do with pay.
2. Because it is measured in terms of people rather than days, the size of the labour force grows or shrinks only when the number of people actively working or willing to work increases or declines.