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Demand Curve for Labour

In: Labour Economics and Public Policy Managing the Labour Markets for Competitiveness

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  • Soon Beng Chew

Abstract

Firms employ workers to produce goods and services for the product markets. If firms are not profitable, the firms will shut down and there will not be any demand for labour. Hence, labour demand is closely linked to the product demand. Of course, product demand is also subject to business cost. High labour cost, high cost of funds and lack of modern technology can make a good business project look bad. But first let us examine a typical firm as a producer of output.

Suggested Citation

  • Soon Beng Chew, 2017. "Demand Curve for Labour," World Scientific Book Chapters, in: Labour Economics and Public Policy Managing the Labour Markets for Competitiveness, chapter 5, pages 57-79, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813202238_0005
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    More about this item

    Keywords

    Labour Market Competitiveness; Labour Unions; Macro-Focused Union; Union Social Responsibility; Union as a Public Good;
    All these keywords.

    JEL classification:

    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies

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