What is labour force of the economy?
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Labour economics, study of the labour force as an element in the process of production. The labour force comprises all those who work for gain, whether as employees, employers, or as self-employed, and it includes the unemployed who are seeking work.
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Explanation:
The labour force comprises all those who work for gain, whether as employees, employers, or as self-employed, and it includes the unemployed who are seeking work. Employees have to be motivated to work to an acceptable standard, and the employment contract is, in effect, open-ended.
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