ECO 212 Week 3 Paper

ECO 212 Week 3 Paper - Differentiating Between Market...

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Differentiating Between Market Structures Paper 1 Differentiating Between Market Structures ECO 212 Learning Team C Amanda Stockwell
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Explain how labor market equilibrium is affected by the supply and demand of labor Companies that sell goods and services in the market of supply and demand are now part of a buyers market in the labor market. Companies need workers to make a product as well as design, sell, package, and distribute the product. The workers will not do the worker for free. They want to be compensated for there services. Companies need to enter the labor market to buy labor so they can afford the workers. Companies also need to determine how much labor they will demand. There are some considerations in the labor that they may demand. This depends on what the buyers want to buy depending on the price and their needs or if the buyer really wants to purchase the product, or if the price is acceptable to the buyer. This will determine the amount of labor companies will need (2007). So basically the companies buy more labor. Then the companies need to buy the right amount of labor and make sure they are not
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This note was uploaded on 07/30/2011 for the course ECON 212 taught by Professor Steave during the Spring '10 term at University of Phoenix.

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ECO 212 Week 3 Paper - Differentiating Between Market...

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