Define Consideration

question 19

Essay

Define consideration.

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Definitions:

Surplus Agricultural Labor

A condition in agricultural economies where there are more laborers available than are needed to cultivate the land, often leading to unemployment or underemployment in rural areas.

Developing Nation

A country with a lower level of industrialization, lower living standards, and lower Human Development Index (HDI) compared to developed nations.

Underemployment

Underemployment refers to situations where workers are employed below their capacity, either through part-time jobs when they seek full-time employment or in positions that underutilize their skills.

Labor Resources

The available human workforce; the people available for work and their skills, which are vital for the production of goods and services.