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

A. labour force
B. supply of labour
C. demand of labour
D. occupational demand for labour

Correct Answer: Option A

A. labour force

Explanation

The labor force is defined simply as the people who are willing and able to work. The size of the labor force is used to determine the unemployment rate. The percentage of unemployed in the labor force is called the unemployment rate.

The labour force is the sum of persons in employment plus persons in unemployment. Together these two groups of the population represent the current supply of labour for the production of goods and services taking place in a country through market transactions in exchange for remuneration.