Flashcards
AP Microeconomics - Changes in Factor Demand and Factor Supply
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How does worker productivity shift the demand for labor?
How does worker productivity shift the demand for labor?
A more productive worker is more valuable to a business
How do changes in the prices of resources shift the demand for labor?
How do changes in the prices of resources shift the demand for labor?
The availability and desirability of substitute and complementary resources increases or decreases the demand for products, thus changing the demand for labor
What is the primary shifter for the supply of labor in any given field?
What is the primary shifter for the supply of labor in any given field?
Wage
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