Answer: 258 million
Explanation:
The labor force refers to the number of people who are employed and the unemployed who are also looking for work.
Let the labor force be represented by x. Based on the question given, we can form an equation which will be:
5.8% of x = 15 million
0.058x = 15 million
x = 15million / 0.058
x = 258 million
Therefore, the labor force is approximately 258 million.
Answer: Market allocates goods effectively.
Explanation: Effective market allocation is the economic market interaction discussed in this case study. As there was a storm and the power lines got down it was obvious that the demand for the batteries and flashlights will increase and the stock became insufficient but the market forces came into action leading to increase in supply and restoring demand and supply to equilibrium level .
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