The total number of people of working age who are willing and prepared to work at a given wage rate is the

Step 1: Analyze the question The question asks for the term describing the total number of working-age people who are willing and prepared to work at a given wage rate. The key phrases are "willing and prepared" and "at a given wage rate."

Step 2: Explain the concepts

• Labour force (working population): All people of working age who are able and available to work, whether employed or unemployed. It is not tied to a particular wage rate.
• Supply of labour: The number of workers willing and able to work at a given wage rate in a given period. It is linked to the wage, and the supply curve generally slopes upward, since higher wages attract more workers.
• Demand for labour: The number of workers employers are willing to hire at a given wage rate.
• Occupational demand for labour: The demand for workers in a particular occupation or profession.

Step 3: Match the clues

• "Willing and prepared to work" describes the workers' side, so it is supply, not demand.
• "At a given wage rate" shows that the wage is the deciding factor. This is the standard definition of supply of labour.
• The labour force is a general count of the working population and makes no reference to a wage rate.

Step 4: Answer The correct option is B. supply of labour.

Tip: Whenever a question mentions people willing to work at a given wage, think supply. Whenever it mentions employers willing to hire at a given wage, think demand. Also, "labour force" is about who is available, while "supply of labour" is about who will work at a specific wage.