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Determine the labor market outcomes

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Market forces, Institutional forces, Sociological forces are the three broad forces that together determine the labor market outcomes (wages and the number of jobs) in the economy. Identify and explain which force is primarily responsible for the fact that there is lack of supply of labour at a price less than $14/hr. in the Ontario labour market.

Market forces - supply and demand

Institutional forces - governments, unions, companies

Sociological forces - norms, culture

Reference no: EM133134323

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