Benafful/chapter1

Please feel free to leave a message in my [mailto:kafuiaheto@yahoo.com inbox] in case you have any information for me. LABOUR ECONOMICS - Unit 1 '''Answer All questions by clicking on the appropriate option or filling in the space where necessary. Finally, click on submit to view your scores.''' {Which one of the following explains labour economics? - Any material or property of the environment that can satisfy human want - Something material or abstract that can be used to satisfy some human want - Substances that can be transformed into artefacts + the behaviour of entrepreneurs and workers in response to general incentives of profit and non-monetary factors
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{Labour market are defined as all the institutional arrangements designed to facilities the contract between buyers and sellers of labour services. True/ False + True - False
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{Unemployment means that: - there are some people who will not work at the going wage rate. - people are not willing to work at the going wage rate. + at the going wage rate, there are people who want to work but cannot find work. - there is excess demand in the labour market.
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{ Labour economics has generated other functions like labour law among others that regulate { employer| employee } and { employee| employer } relationship.
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