1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
frosja888 [35]
3 years ago
14

(Economics) You have two friends who are pursuing different careers after high school this year. Danielle is interested in getti

ng into the medical field and wants to be a doctor after eight years of schooling. Danny wants to be a barber after he earns a certificate after six months of barber school.
1)Predict: How will supply and demand and labor substitutes in these job markets affect their pay and likeliness to get a job?

2)How will supply and demand within the job market affect my career choice?
Social Studies
1 answer:
tankabanditka [31]3 years ago
8 0

Answer:

1)Predict: How will supply and demand and labor substitutes in these job markets affect their pay and likeliness to get a job?

Supply, demand and labor substitutes are three variables that will determine the wage.

For the medical field, the demand for doctors tends to be higher than the supply of doctors, because becoming a doctor is costly both in time and money. This means that doctors will be well-paid, according to this model.

Besides, there are not so many labor substitutes for a doctor, increasing the probability of a high pay for them.

The opposite occurs for barbers. Barbers are easier to supply, and demand is not as high for them. This means that a barber salary will be much lower than a doctor's salary. Finally, barbers do have more labor substitutes as well.

2)How will supply and demand within the job market affect my career choice?

Supply and demand within the job market, as explained above, largely determines the quality of the career that you choose. A labor market with high supply and low demand means that the chosen career will be paid less, while a labor market with low supply and high demand means that the chosen career will be paid high salaries.

You might be interested in
What form is used to request a background investigation?
Deffense [45]

Answer:

You may use the INV100, Freedom of Information / Privacy Act Records Request for Background Investigations, form or submit a handwritten request. The INV100 is specific to DCSA (and its predecessor the National Background Investigation Bureau). Although use of this form is not mandatory, we encourage you to utilize it when making a request.

Explanation:

7 0
3 years ago
What was the second oldest college in america?
laila [671]
<span>The College of William and Mary. Established: 1693</span>
3 0
3 years ago
Please help! 20 points
Neko [114]
The answers are B and D.
6 0
3 years ago
Which of the following kinds of questions is designed to determine whether a help desk job applicant has specific educational an
Zinaida [17]

Answer: (1) directed question.

Explanation:

As the questions for determining whether a help desk job applicant has specific education and work experience is simple and straight forward, which is never complicated, a few directed questions would be able to obtain the answers/information from the applicant. It is not needed for hidden intent/meaning during questioning, or any indications in the questions for the purpose of suggestions. The answers to the questions could also be a simple yes or no if the requirement for the position is not strict.

8 0
2 years ago
What are the advantages and disadvantages of immigration be the u.s and mexico?
FromTheMoon [43]
The advantages of immigration from Mexico is less drugs (mexico is known to give out them) and also more jobs for U.S.citizens. The disadvantages is there maybe war because Mexico might think the U.S is discriminating them.
4 0
3 years ago
Other questions:
  • The people of the rainforest kingdoms of Ile-Ife and Benin were not Muslim They practiced religions with
    11·1 answer
  • According to the envelope in model 1 who is supposed to receive the letter answer key
    12·1 answer
  • Property rights are _____. agreements enforceable by law privileges to decide how resources are used legal obligations to repay
    12·2 answers
  • All of the following are reasons for requiring clearly specified procedures for the administration and scoring of assessment mea
    13·1 answer
  • Which child is best described as an "average child"?
    12·1 answer
  • How does the gospel of wealth justify social darwinism?
    8·1 answer
  • Georgia's Primary Exports in the Colonial Era Wine Rice Indigo Silk Tobacco Georgia's Primary Exports in the Modern Era Peaches
    8·1 answer
  • (HELP) What is agriculture like in the middle east? (5 sentences)
    9·1 answer
  • A fee paid for using someone else's money is called A. tax B. balance C. interest D. principal Please select the best answer fro
    9·1 answer
  • Which is the most effective way for countries to cooperate when sharing natural resources?
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!