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Q. Definition of labour force?
Labour Force:Total population of working-age people who are willing and able to work and who thus have ‘entered' labour market. Labour force includes individuals who are employed, and those who are ‘actively' seeking employment.
Policy Implications: The expansion of the services sector has wider implications for population, employment, and trade prospects of the economy, some of which are as follows:
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Question : (a) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether c
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stackelberg,bertnart,cournet about oligopoly
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