The market for labor can be divided into two components, labor demand , and labor supply .
Market labor supply curves are determined more by the number of individuals who choose to supply their labor to that market than the number of hours each supplies.
So at higher wage rates relative to other markets, more people choose to supply labor in that particular market and the curve is always up-sloping.
In perfectly competitive labor and product markets, labor supply curves always measure marginal opportunity costs. The shorter the time period will be and the more specialized the type of labor will be , the less elastic the labor supply curve will be.
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I think its the mean...........
You'll have to give me the options.
Answer:
A. True
Explanation:
Motivation refers to providing such benefits and incentives which stimulates employees to better performance and directs them towards achievement of organizational goals and objectives.
Motivation can be provided both in monetary and non monetary forms. While monetary forms would include incentives, appraisal etc, non monetary forms would include better participation of employees in decision making, providing better infrastructure and workplace environment.
The given case points towards provision of non monetary forms of motivation. Providing employees with opportunity to vote on a decision builds trust and at the same time satiates the need for respect and recognition.
Excess Demand is occurring.
This means that the amount of supply in a market cannot keep up with demand.
