The labor force is the actual number of people available for work; economists use the labor force participation rate to determine the unemployment rate.
This page discusses the three economic sectors: primary, secondary, and tertiary, and differentiates capitalism from socialism. It notes capitalism's benefits of growth and freedom alongside its criti...This page discusses the three economic sectors: primary, secondary, and tertiary, and differentiates capitalism from socialism. It notes capitalism's benefits of growth and freedom alongside its criticisms of inequality, while socialism is seen as promoting equality but potentially hindering innovation. The text further explores economic challenges in the U.S.
