Asked by
Emily Calabrese
on Nov 26, 2024
Verified
In a given labor market, the demand for labor by employers will shift to the right or left with changes in all of the following, except
A) the demand for the products produced by the employers.
B) the price of labor that the employers must pay.
C) the prices of other resources that the firms must use.
D) occupational trends affecting the particular labor in the market.
Occupational Trends
Patterns or shifts in job growth, decline, or change in different sectors or industries over a period.
Price of Labor
The amount of money that is paid for the work done by employees or laborers.
Demand for Products
Consumers' eagerness and capability to acquire goods and services for certain prices.
- Explain the effects of changes in technology and product preferences on labor market dynamics.
- Examine how factors external to the organization, such as advances in technology and shifts in employment trends, affect the need for workers.
Verified Answer
MP
Learning Objectives
- Explain the effects of changes in technology and product preferences on labor market dynamics.
- Examine how factors external to the organization, such as advances in technology and shifts in employment trends, affect the need for workers.