GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The number of people who are able to work and willing to work is known as
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Labour supply
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Work force
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Labour force
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Working age population
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Explanation:
Detailed explanation-1: -Definition: Labour force participation rate is defined as the section of working population in the age group of 16-64 in the economy currently employed or seeking employment.
Detailed explanation-2: -THE NUMBER OF PEOPLE WHO ARE ABLE TO WORK AND WILLING TO WORK AT THE EXISTING WAGE IS KNOWN AS LABOUR FORCE.
Detailed explanation-3: -The labor force is the sum of the employed plus the unemployed, and the unemployment rate is the number unemployed divided by the number in the labor force. People are considered employed if they work at least one hour for pay or at their own business at any time during the week including the twelfth day of the month.
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