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Figure 2.3 Male and Female Participation Rates by Level of Economic Development 

Figure 2.3 Male and Female Participation Rates by Level of Economic Development 

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2-12







Hours-of-work

 Hours per day, days per week, weeks per year

 It may affect the quantity and the quality of



labour supply



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2-13



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2-14







The choice of hours worked given

opportunities and value of non-market

time

 Preferences and Constraints

 Individuals choose the feasible outcomes



which yield the highest level of satisfaction



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2-15







Two “goods”

 Consumption

 Leisure







Represented by indifference curves

(A person is indifferent between various combinations

of consumption and leisure on an indifference curve)



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2-16



Consumption



A - willing to give up abundance

of consumption for leisure

A



B



0

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B - willing to give up

abundance of leisure for

consumption



Leisure (time)

(non-market activity)



17



Consumption

(goods and services)



C11

C12



A



C0



U02

U01

0

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l1



l0



Leisure (time)

(non-market activity)

18



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Figure 2.3 Male and Female Participation Rates by Level of Economic Development 

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