The Total Number of People Aged 16 Years and Over

question 95

Multiple Choice

The total number of people aged 16 years and over who are not institutionalized

• A) equals the number of employed plus unemployed.
• B) is the working-age population.
• C) does not include students.
• D) is the labor force.

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Definitions:

Scarcity

The fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.

Opportunity Cost

Renouncing the possibility of gains from different alternatives by making a single choice.

Human Desire

The intrinsic motivation or want for specific outcomes, experiences, or material possessions.

Social Problems

Issues that affect a significant number of people within a society, viewed as conditions warranting public concern and intervention.