Labor supply refers to the total number of workers available to fill jobs in an economy. It is influenced by various factors, including population size, education levels, and economic conditions. When more people are willing and able to work, the labor supply increases, which can affect wages and employment rates. Changes in labor supply can also result from shifts in societal norms, such as the participation of women in the workforce or retirement trends among older workers. Additionally, government policies, like minimum wage laws and immigration regulations, can impact the overall availability of labor in the market.