Econ. Jan 15
Published on Dec 14, 2015
No Description
MORE DECKS TO EXPLORE
7 Strategies to Write a Speech with Ease
84562 views
10 ways
45143 views
TXLA Wrap-up 2015
9445 views
What is Creativity
67808 views
What is Media Literacy Today?
25798 views
WHY WORK WITH ME?
20218 views
PRESENTATION OUTLINE
firms tend to offer higher wages
to attract workers - higher wage rate, encouraging more labour supplied
Photo by JAXPORT
if wage is too low...
shortage of labour - quantity demanded exceeds quantity supplied
Photo by emilio labrador
if wage is too high...
surplus - quantity of labor supplied exceeds quantity demanded
Photo by Emily Stanchfield
In this scenario, workers who are willing to offer their services for less tend to drive down the wage rate...
differences in wage
factors mentioned previously, non-monetary benefits
determining how much people should get paid
isn't an easy thing - 'high skill' vs. 'low skill'
Photo by Abdullah AL-Naser
supply and demand curve
slsl, shsl, dlsl, dhsl
education is generally a good standard of measure
the more education you have - the more money you tend to make
Photo by r.nial.bradshaw
trying to offer your services
hopefully demand for labor is high, while supply is low - therefore...
firms invest too
training, support, etc. - they want more productivity
pg 177
figure 8.9
employment outlook for various occupations
new jobs mostly in service (business, health, tech, etc)
Photo by tim caynes
can you read/writ effectively?
numeracy
can you math good?
oral communication
can you express yourself effectivly
critical thinker
will you buckle if things change slightly?
work well with others
are you an unbearable human?
computer literacy
don't be a n00b
continuous learning
drive to get better over time
moral of the story?
get some kind of post-secondary training... or you probably won't find work
Photo by Rev. Voodoo
