Question

Analyze global labor supply factors in terms of quality and quantity. In your own words, present an example of how it varies in quality.

Answer 1

Explanation:

The supply of labor in terms of quality and quantity will be influenced by micro and macroeconomic factors.

The labor market is constituted by a relationship of labor supply and demand for employees, which is totally influenced by the economic context that a particular country is experiencing. For example, if there is an economic downturn, then there is likely to be less labor supply and less demand.

Looking at the global labor market, we can see how it varies from country to country.

In terms of quality, we can mention China for example, which is a country where there is a lot of work, but the labor force is one of the cheapest in the world, which makes this an extremely attractive labor market for the international market, but due to poor working conditions, there is often no quality in the work process for these employees.