In the sentence:
Men, women and children are people.
What is the term for the combination of nouns and conjunctions found in the subject position?
"Compound noun" doesn't quite seem to fit the bill here.
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Men, women and children is not a word, but a phrase (a noun phrase = NP 1 ), so you can not apply morphological terminology like compounding here.
I don't think there's a special name for NP formation via conjunction other than exactly that - NP formation by conjunction.
The example Men, women and children are people could have a compound noun men, women, and children, but it would be unwise to refer to it that way, using the term "compound noun", because of confusion with another quite different construction, also a "compound noun", which is morphological rather than syntactic and does not use a conjunction. For instance, woman child is a compound noun, stressed on the first part of the compound, which refers to a person who is both a woman and a child.
So, although in the example, men, women, and children might be a compound noun, it shouldn't be called that, because it would be confusing. I'll refer to it as a conjoined noun instead, to avoid that confusion.
I notice in other comments that men, women, and children is referred to as a conjunction of three noun phrases (or DPs, or subjects), rather than three nouns. That's misleading, though it could be true. The general rule in English is that several constituents of the same category can be conjoined, and since a NP (noun phrase) can be absent any overt determiner, in the example, we could be dealing with either a conjunction of three nouns or a conjunction of three NPs. If we add a determiner or an adjective to the example, the situation becomes clear:
The men, women, and children are hungry. The men, the women, and the children are hungry.
The first has a conjunction of three nouns; the second has a conjunction of three NPs. A standard example of structural ambiguity is
old men and women
which can have either the conjunction of nouns men and women modified by the adjective old, or else the conjunction of the two NPs old men and women.
In the original example, with neither determiner nor adjective to disambiguate, the two possible structures have the same sense, so far as I can tell.