Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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explain market based structure and explain your reason.Provide an example that will explain broadbanding.
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Step 1
Quantity of labour can be influenced by two factors which are number of workers and other factor is number of hours for which people work. Number of available workers is determined by: Size and structure of population If population is more there would be more quantity of skilled as well as unskilled workers. If more people are of working age, more workers would be there but if there are more non working age people such as children and elderly then there would be reduction in number of workers.
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