To know and understand the demand curve for labour
and the factors affecting the demand of labour
To know and understand the supply curve for labour and
the factors affecting the supply of labour
FACTORS THAT AFFECT SUPPLY
The nature of supply
The relationship between price and supply
Causes of shifts in the supply curve
THE LAW OF SUPPLY
Supply is the quantity of a good or service that a
producer is willing and able
They come up with business idea;
They are business owners;
Entrepreneurs are risk takers;
They are responsible for organising the
other three factors of production.
Chapter 16 The factors o
AND CROSS ELASTICITY
Elasticity Learning objectives
Understand the definition of elasticity.
Be able to compute the elasticity coefficients.
Analyze the elasticity characteristics.
Illustrate the determinants of the elasticity.
Interference in the labour market
How can the government influence labour
- What is it?
- Why does it exists?
Chapter 13 Interference in the labour market
One way in which
WHAT YOU WILL LEARN.
different levels of business activity
primary, secondary, tertiary
between the different levels of
Meaning of de-industrialisation
LEVELS OF BU
Learn what is the economic
Understand the role of the
market in solving it
Understand how choices
create opportunity cost
Learn how to analyse PPCs
All countries have water,
The Division of Labour
To know and understand the importance of:
- Division of labour
People available for work in a country.