A. Who are the individuals tha

A. Who are the individuals that do well in changing labormarkets?


The individuals who are most flexible in who they work for


Those who understand markets with scarce demand and highsupply


Only those who are smartest with the best degrees andcolleges


Those who understand markets with high demand and scarcesupply

What are the main factors that are altering supply and demand inlabor markets (select all that apply)


Technology companies that manipulate markets


Occupational licensing


Growth in global markets


Slower economic growth


Individuals who don’t understand markets


Technology and special skills


Government intervention in markets


Answer-1. Correct option is ‘ A’

The individuals who are most flexible in who they work for.Flexibility in the work place allows employer and employee to makearrangements about working conditions that suit them. The helpemployees maintain a work and can help employers improve theproductivity and efficiency of their business. Overall, a flexiblework environment is beneficial to both employer and employee.Employees have more freedom to work in an environment that isconducive to increase their output and work rate while employer canbenefit form a happier and harder working force.

Answer-2. Correct options are A, B, C, F and G

These are the main factors that are altering supply and demandin labour market:

1) TTechnology, trade affect labour market. Technologicalprogress has led to a higher relative demand for skilled workersand a lower relative demand for workers performing routineactivities.

2 ) Occupational licencing as a mendatory upfront investment oftime for individuals to enter an occupation and characterize theequilibrium responses of labour market outcomes to licencing.

3 ) Technological advances that improve production efficiencywill shift a supply curve to right. The cost of production goesdown and consumers will demand more of the product at lowerprices.

4) Globalization is clearly contributing to increasedintegration of labour markets and closing the wage gap betweenworkers in advanced and developing economies, especially throughthe spread of technology.

5) Government tries to combat market inequities throughregulation, texation and subsidies. Governments may also intervenein markets to promote general economic fairness maximizing socialwelfare is one of the most common and best understood reasons forgovernment intervention.

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