From the list provided, labor is an essential commodity. It is among the factors of production. It is the human input or the work done by human beings. The reward for labor service is the wages and salaries paid to workers.
Which best explains one of the restrictions on producers that keep the labor market from being a completely free market?
The statement that best explains one of the restrictions on producers that keep the labor market from being a completely free market is that “Workers aren’t always available where they’re needed.”
When immigration adds to the size of domestic labor pool which is likely to occur?
When immigration adds to the size of the domestic labor pool, which is likely to occur? minimum wage increases.
Which describes a quota?
A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period. Countries use quotas in international trade to help regulate the volume of trade between them and other countries.
Which is a restriction on both workers and producers?
Answer: Minimum Wage. Explanation: Minimum wage requires businesses to pay it’s employees a livable wage.
Which states one reason why the labor market isn’t completely free market?
Labor is a commodity. Which states one reason why the labor market isn’t a completely free market? Workers can’t always change jobs when they want to. Outsourcing increases the domestic supply of workers, driving down the price of labor.
Which best explains the effects of immigration on the labor market CS 11?
Which best explains the effect of immigration on the labor market? Immigration increases the supply of labor. Outsourcing increases the domestic supply of workers, driving down the price of labor.
Which is best describes what production accomplishes?
Producers cannot make enough of a good when that good becomes popular suddenly. Which best describes what production accomplishes? value added to resources that already exist The optimal use of a resource takes place when which happens?
When does the optimal use of a resource take place?
The optimal use of a resource takes place when which happens? The benefit is greater than the opportunity cost. Which type of purchase would lead to decreasing marginal utility? a second winter coat
Which is best explains the purpose of a supply schedule?
PLAY Match Gravity Created by NikitaKelly Terms in this set (64) Which best explains the purpose of a supply schedule? show the relationship between quantity supplied and prices Which most accurately describes how the equilibrium price of a good or service can be determined? finding where the supply curve and the demand curve intersect
