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wage elasticity of demand for labor

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  • Hicks-Marshall laws of derived demand — In economics, the Hicks Marshall laws of derived demand assert that, other things equal, the own wage elasticity of demand for a category of labor is high under the following conditions: * When the price elasticity of demand for the product being …   Wikipedia

  • Supply and demand — For other uses, see Supply and demand (disambiguation). The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a… …   Wikipedia

  • Frisch elasticity — The Frisch elasticity of labor supply capture the elasticity of hours worked to wage rate, given the marginal utility of consumption unchanged. In other words, Frisch elasticity measures the substitution effect of a change in wage rate on labor… …   Wikipedia

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  • Topic outline of economics — For a more comprehensive list, see the List of economics topics. Economics, is the social science that studies the production, distribution, and consumption of resources. By extension, economics also studies economies, the creation and… …   Wikipedia

  • Labour economics — seeks to understand the functioning of the market and dynamics for labour. Labour markets function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers), the demanders of labour… …   Wikipedia

  • Unemployment — World unemployment rates[1] as of January 2009[update] Unemployment (or …   Wikipedia

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  • United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …   Universalium

  • distribution theory — ▪ economics Introduction       in economics, the systematic attempt to account for the sharing of the national income among the owners of the factors of production land, labour, and capital. Traditionally, economists have studied how the costs of …   Universalium

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