Markets - Text from book

11 important questions on Markets - Text from book

What is a disadvantage of working with models

They apply only under certain circumstances

When is there is negative connection between the price and demanded quantity

When there are at a higher price fewer geraniums demanded than at a low price

Where do you put the demand quantity in a graph

On the horizontal axis (x-axis)
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What does the supply curve indicate

The willigness to supply of the suppliers of geraniums

Why will suppliers reduce their selling price when the supply and demand are not in equilibrium

So that the demand increases again and a number of suppliers stop supplying

When does the supply equation have to be adjusted

When the supply changes

How can unemployed be included in the supply of labour

They must be able to accept a new job immediately

Of which 3 groups does the supply of labour exist

Self-employed persons, employees and the unemployed

Who are the consumers of labour

Enterprises and non-commercial organisations

Why does the labour market consist of many market segments

Because you can't do a job without having done a study for it

What changes in a year in the labour market

Graduated student join, eldery people go with pension, some people change jobs

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