= in a “free market”, demand and supply (the “market forces”) determine together the price of labour and, hence, how much of it will be employed
精品文档
A free market?
Decisions are subject to regulations
Whether formal or not
精品文档
Which regulations?
official (laws and decrees) Employment, laying off, security at work Minimum wage
Employer, or employment opportunity
精品文档
The labour market
Virtual space
In which are matched, in a more or less organised manner…
The supply and demand
Of all sorts of labour
精品文档
Factors affecting labour markets
affecting both supply and demand side
exchange
allocation and price
determination
supply
demand
精品文档
The labour market
production exchange
utilisation
supply