Labour markets

HideShow resource information
  • Created by: Lottie
  • Created on: 01-12-11 17:20
  • The demand for Labour
  • firm's willingness to employ labour at each given wage rate
  • wage rate rises= demand for labour falls vice versa

Reasons why:

  • increased wages= search for cheaper substitute for labour e.g. machinary
  • increased wages= increase cost of production= increased price of product= less demand= less need for labour

The supply of Labour

  • employees willingness to work at each given…


No comments have yet been made

Similar Economics resources:

See all Economics resources »See all The labour market resources »