Week 3_9 Changes in the Labour Market
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Get to know Basic Concepts: -- Supply for labour represents workers’ willingness to work at a given (real) wage rate. Any factor influencing the willingness of workers, except a change in wages, will lead to a shift of the labour supply curve. -- Demand for labour represents employers / firms willingness to employ workers at a given (real) wage rate. Any factor influencing the willingness of employers to employ workers, except a change in wages, will lead to a shift of the labour demand curve. |
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Question: Assume government reduces welfare benefits, how it will influence the labour market? Discuss with fellow students in Discussion Forum. |
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Watch the Video: Download the course slides Download course slides. |