When the number of workers in an occupation is limited and demand for these workers is high, then wages tend to be a variable b

Question

ioda

3 years ago

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When the number of workers in an occupation is limited and demand for these workers is high, then wages tend to be a variable b

steady c high d low

Advanced Placement (AP)

1 answer:

sergey [27] · Answer 1 · 2022-04-11T21:20:24+03:00

Answer: high

Explanation:

When the supply of labor for a particular occupation is high, this means that there are plenty people who are ready to work and there's surplus labor. When the need for workers arise by employers, due to the high labor supply, there'll be lower wages that'll be offered to them.

On the other hand, when the number of workers that we have in an occupation is limited and the demand for such workers is high, this will bring about a scenario whereby the wages that'll be offered to such workers will be high because there's a high demand for them and there are limited workers for that occupation.