All individuals of working age (between the ages of 15 and 65 in most countries) who are either employed or unemployed in a country

A measure of unemployment that uses data gathered from a survey of a sample of households to calculate the unemployment rate.

Where the production of a good or service depends more heavily on labour than the other factors of production.

Output per worker per time period

Includes all natural resources.

As the price of a good or service falls, the quantity demanded increases.

As the price of a good or service falls, the quantity supplied decreases

Where the central bank gives loans to banks or other eligible institutions that are experiencing financial difficulty and may not be able to quickly borrow money elsewhere.

The number of years a person in a country is expected to live.

The economic wellbeing and quality of life of members of a population.

A wage set at a level to enable workers to reach a minimum acceptable living standard.

A sum of money that is given to a person or entity on the promise that it will be repaid at an agreed time in the future with interest.

The time it takes to change the factors of production to expand and produce on a larger scale.