1. The legally bound obligation to pay debts is known as a (1) Business license. (2) Liability. (3) Large amounts of paperwork. (4) Fringe benefit.1. The labor force is (1) All nonmilitary people who are employed or unemployed. (2) The theory that education increases productivity and results in higher wages. (3) The theory that the completion of college indicates to employers that a job applicant is intelligent and hardworking. (4) A temporary or part-time job.1. The labor force is (1) All nonmilitary people who are employed or unemployed. (2) The theory that education increases productivity and results in higher wages. (3) The theory that the completion of college indicates to employers that a job applicant is intelligent and hardworking. (4) A temporary or part-time job