passwella.
Menu

WAEC Economics 2017 Question 24

Question 24

Labour Market

The total number of people of working age who are willing and prepared to work at a given wage rate is the

  1. A.labour force.
  2. B.supply of labour.
  3. C.demand for labour.
  4. D.occupational demand for labour.
Show the answer and explanation

Answer: B (supply of labour.)

Explanation

Supply of labour is the number of people of working age who are willing and able to work at a particular wage rate. The phrase 'at a given wage rate' marks it out from the labour force.