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Question
___________ are determined in the labour market by the demand for and the supply of labour force.
___________ are determined in the labour market by the demand for and the supply of labour force.
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Solution
The correct option is B Wages
In a labour market, wages of the labour are decided on the demand and supply of the labour as if the demand of the labour increases their price also increases and vice-versa whereas if supply of the labour increases their price decreases and vice-versa.
In a labour market, wages of the labour are decided on the demand and supply of the labour as if the demand of the labour increases their price also increases and vice-versa whereas if supply of the labour increases their price decreases and vice-versa.
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