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Determinants of Private Demand - Waiting-Time for Employment
‘Waiting time’ for employment is another important factor. The waiting time varies from course to course. For instance, it is lowest for medical and para-medical courses while it is highest for Arts graduates. It is common practice to relate ‘employment’ i.e. number of persons employed, to the time period for getting ‘first employment’.
Thus, if the employment rate is 50 per cent for a course with a waiting period of ‘six months or less’, it means that out of the total numbers qualified and interested in taking up job, half of the total number could secure jobs within the first six months of qualifying the course. Evidently, with increased waiting period, the number of employed should go up.
Wage Differentials: Market structure alone does not account for all of the differences in wages and employment. Market wage differentials arise from various other sources, includin
thoery explanation
Determinants of the price elasticity of demand are explained below: 1. Number of close substitutes present within the market - The more and closer substitutes available in the
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Lab Exercise 1. Taco Del Mar has completed a study of weekly demand for its tacos in Washington State's regional markets. The study developed the following demand function: Q =
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The Effects of Advertising on the Demand Curve: Advertising targets to: • Change the slope of the demand curve which means make it more inelastic. This is done by generat
ELEMENTARY THEORY OF PRICE FORMATION: DEMAND-SUPPLY ANALYSIS: We discuss the elementary theory of price formation. Demand curve in the market is derived from the aggregate con
Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production). Production: Process by which human labour
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