ECONOMICS
PRICE CEILINGS AND FLOORS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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suppliers
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demanders
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sellers
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buyers
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Detailed explanation-1: -The labor market is also divided into two types: external and internal.
Detailed explanation-2: -Definition: A labour market is the place where workers and employees interact with each other. In the labour market, employers compete to hire the best, and the workers compete for the best satisfying job. Description: A labour market in an economy functions with demand and supply of labour.
Detailed explanation-3: -A labor market is a collection of buyers and sellers of labor, where labor is the commodity. The buyers are the employers, and the sellers are the workers.
Detailed explanation-4: -For example-The Labour of engineer, doctor, teacher and a scientist has been called as skilled Labour. ADVERTISEMENTS: While the work in which special knowledge, training or learning is not required is known as unskilled labour.