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Q: How does price act as an incentive in the labor market?
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What is Stock Exchange cues?

stock exchange cues A cue means a signal to act. The literary meaning of cue is a 'clue','hint','indication'etc. In the context of stock market,cue refers to an 'index' which is used to give information about the price movements of securities in the market.


Relationship between incentive and utility?

Necessity is the mother of invention. Necessity being incentive and invention being utility.


How are prices for goods and services determined in a market economy?

Prices and wages are determined by the price mechanism. The price mechanism is the interaction of the demand and supply curve, or the demand and supply model.The answers below are referring to scenarios where there is no government intervention, when the market is a free market, or market economy.You have to draw the model to understand the theory. Prices of goods and services model, on the horizontal axis, or X axis is the quantity of goods; on the vertical axis, or Y axis, you have the prices of goods. You have your two curves: demand and supply. The demand curve is downward sloping, and the supply curve is upward sloping. The interaction of this two curves will result in the shape of the letter: X.There are two issues to consider.When the market is at equilibrium. This is the point where Supply=Demand. Like reading of a graph, the price of the good will be set at this level and the quantity of the good will be set at this amount. Here, the market is stable. On the long run(where factors of production are variable)When the market equilibrium changes due to the changes in demand and supply.When there is an increase in demand, the new demand curve will shift leftward. This will result in a new point where Demand Curve 2 interacts with original Supply Curve. This is the new price and quantity output, where price increases and quantity output increases compared to when the market was stable in Scenario 1.When there is a decrease in demand, the new demand curve will shift rightward. This will result in a new point where Demand Curve 3 interacts with original Supply Curve. This new price and quantity output, where price decreases and quantity output decreases compared to when the market was stable in Scenario 1.When there is an increase in supply, the supply curve will shift rightward. This will result in a new point where Supply Curve 2 interacts with original Demand curve. The price will be lower, and the output will increase compared to Scenario 1 when the market was stable.When there is a decrease in supply, the supply curve will shift leftward. This will result in a new point where Supply Curve 3 interacts with original Demand curve. The price of the good will increase, and the output will decrease compared to Scenario 1 when the market was stable.The above conditions are the same for the labor curve of the total labor work force, but changing the labels of to quantity of labor, and replacing Wages with Price.There are also shortages and surpluses on the short run that can be considered.Most importantly, market will always return to equilibrium on the long run.


What was the price of sugar in 1948?

In 1948, the price of sugar became controlled due to the Sugar Act of 1948. The price of sugar in 1948 was approximately .52 cents a pound.


What are the entry barriers that act as a potiential threat to new entrants in the market?

what are threats of new entrants

Related questions

What government act provides an incentive for people to farm the great plains?

what government act provided an incentive for people to farm the great plains


What government act provided an incentive for people to farm great plains?

what government act provided an incentive for people to farm the great plains


Things that Excite a response or act as incentive?

Stimuli


What act of 1938 abolished child labor?

Fair Labor Standards Act!!


Did the national labor relations act guarentee government support for organized labor?

Did the national labor relations act guarentee government support for organized labor?


What act established minimum wages and constraints on the use of child labor?

Fair Labor Standards Act of 1938


Who favored the clayton antitrust act?

The labor unions.


What contributed to unions growing more powerful in the 1930s?

the formation of the CIO The Wagner Act The National Labor Relations Act The National Labor Relations Act


Which act has been called the Magna Carta of labor because it is pro-union?

the Wagner Act of 1935 a.k.a the National Labor Relations Act of 1935


Who introduced Fair Labor Standards Act?

Did Mary t norton sponsor the 1938 fair labor stand act


What grew most as a result of the Wagner act?

The National Labor Relations Act or Wagner Act of 1935 increased membership in labor unions. The act guaranteed the right of workers to form unions.


What is the Taft Henley Act?

The Taft-Hartley Act, also known as the Labor-Management Relations Act, is the federal law that monitors the activities and powers of labor unions.