Supply And Demand For Labour - SS2 Economics Past Questions and Answers - page 1
1
What does the supply of labor refer to?
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A
The number of workers that employers are willing and able to hire.
B
The number of workers who are willing and able to work in a particular job market.
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C
The number of workers who are currently employed.
2
What does the demand for labour refer to?
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A
The number of workers who are willing and able to work in a particular job market.
B
The number of workers that employers are willing and able to hire.
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C
The number of workers who are currently unemployed.
3
What happens when the supply of labour exceeds the demand for labour?
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A
There is a shortage of labour.
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B
There is an oversupply of labour or unemployment
C
There is no effect on the labor market.
4
What happens when the demand for labor exceeds the supply of labor?
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A
There is a shortage of labor.
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B
There is an oversupply of labor or unemployment.
C
There is no effect on the labor market.
5
What does a healthy economy look like in terms of the supply and demand for labour?
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A
There is a shortage of labour.
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B
There is an oversupply of labour or unemployment.
C
The supply of and demand for labour is in balance.
6
What can influence the supply of labour in a particular job market?
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A
 Economic growth.
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B
Changes in consumer demand.
C
Government policies related to employment.
8
What happens when there is an oversupply of labour?
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9
What factors can influence the supply of labour?
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