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From course:

Economics A Level

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Question:

What are the 3 Major Factors of the Flexibility of Labour

Author: go kys



Answer:

-Labour Mobility: How easy it is for Workers to switch Jobs. More Transferrable Skills can make it more Easier. So this is about how Skilled Workers are, and also the Willingness of Workers to move where Jobs are located -Wage Flexibility: Are Wages able to Change with Changes to the Labour Market (Supply and Demand Changes) In a Recession, Employers could Lower Wages instead of Sacking off Workers -Flexibility of Working Arrangements: Can Employers hire Workers best suit them? Part-time work, Short-Term or Zero Hour Contracts allow it for Firms to to Hire or Fire Workers and Respond to Changes in the Market


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go kys
go kys