The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6

-An individual's decision to supply her labor or to spend her time in leisure activity is known as the labor-leisure tradeoff.

Question

The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6
 
-An individual's decision to supply her labor or to spend​ her time in leisure activity is known as the labor-leisure tradeoff.

Quizplus · Accepted Answer

The labor-leisure tradeoff refers to an individual's decision to allocate her time between working (supplying labor) and engaging in leisure activities.

The Following Figures Show the Demand (D) and Supply (S)