The labour supply curve is fundamentally a representation of the trade-off people face between which of the following?

Question

Quizplus · Accepted Answer

The labour supply curve shows how many hours of work an individual is willing and able to supply at different wage rates, based on the trade-off between work and leisure. As the wage rate increases, people may be willing to work more hours because the financial incentive to do so is greater, but they also may be willing to work fewer hours if the higher wage rate allows them to enjoy more leisure time.

The Labour Supply Curve Is Fundamentally a Representation of the Trade-Off