What is leisure defined as in economic terms?

Leisure, in economic terms, is defined as time available for purposes other than earning money. This concept broadly encompasses activities that individuals engage in for enjoyment, relaxation, or personal fulfillment, rather than for work or productivity. Understanding leisure as such allows economists to examine how individuals allocate their time between work and non-work activities, influencing labor supply, consumption patterns, and overall well-being.

In economic models, the allocation of time is crucial since individuals face trade-offs between working to earn income and enjoying leisure activities. When analyzing labor markets and the decisions individuals make regarding their labor participation, leisure is a vital factor that impacts productivity and utility derived from life choices. The appreciation of leisure time recognizes its role in contributing to individual and societal welfare.