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Workers, staff, suppliers,labor workers
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∙ 12y ago
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What do people supply in return for factor payments?
Land, labor, or capital.
What best explains why the level of wages are largely determined by the law of supply and demand?
People looking for jobs constitute the supply of labor. Firms looking for employees constitute the demand for labor. Clearly then if there is a large supply of labor available and not much demand, wages will be low. If there is a large demand for labor and a small supply, wages will be high.
Why does an economy's strength ultimately reside in its people?
People choose which goods to supply and what goods to demand; they supply labor and develop new technologies.
What best explains why the law of supply and demand has an effect on labor market?
In the law of supply and demand the effect on the Labor Market is that labor is a commodity.Labor is a commodity
Which way will an increase in labor cost shift the supply curve?
An increase in labor cost will decrease supply, so the supply curve will shift left.
What do people supply in return for factor payments?
Land, labor, or capital.
What best explains why the level of wages are largely determined by the law of supply and demand?
People looking for jobs constitute the supply of labor. Firms looking for employees constitute the demand for labor. Clearly then if there is a large supply of labor available and not much demand, wages will be low. If there is a large demand for labor and a small supply, wages will be high.
Why does an economy's strength ultimately reside in its people?
People choose which goods to supply and what goods to demand; they supply labor and develop new technologies.
Which explains why immigration can lead to be decrease in wages?
Immigration increases the supply of labor.
What has the author Jonathan Dickinson written?
Jonathan Dickinson has written: 'Revealed preferences, functional form, and labor supply' -- subject(s): Labor supply, Mathematical models, Wages 'The Ashenfelter-Heckman model and parallel preference structures' -- subject(s): Labor supply 'Implicit and explicit preference structures in models of labor supply' -- subject(s): Labor supply, Mathematical models
What best explains why the law of supply and demand has an effect on labor market?
In the law of supply and demand the effect on the Labor Market is that labor is a commodity.Labor is a commodity
Which way will an increase in labor cost shift the supply curve?
An increase in labor cost will decrease supply, so the supply curve will shift left.
How does the labor supply approach differ from traditional forecasting approaches?
what is the differnce from traditional forecasting and labor supply chain
What Best explains the effect of immigration in the labor market?
buy one get one free
What is the elasticity of labor?
The rate at which any change in labor effects demand of labor or supply.
What provided a ready supply of labor for industry?
The Industrial Revolution and urbanization led to a surplus of people moving from rural areas to cities in search of work. This influx of population provided a ready supply of labor for the growing industrial sector.
What are the effects of migration on the labor force?
Immigration increases the supply of labor
