Demand for Labour Flashcards
1
Q
What does the demand for Labour curve show
A
How many workers will be hired in a given period of time
2
Q
What is MRP
A
Extra revenue generated when an individual worker is hired
3
Q
What are the none wage determinants for Demand for Labour
A
1.Productivity
2. Price of the product
3. Derived demand for product
4. Prices of substitutes for Labour
5. Prices of Complements for Labour
6. Profitability of employer.
