The supply of labour in any one market depends on the opportunities available in other markets.

Question

Quizplus · Accepted Answer

This statement is true because individuals may choose to move to other markets where job opportunities are more favourable, leading to a change in the local labour supply. In addition, the availability of skilled labour in other markets can also affect the demand for labour in a particular market, leading to changes in employment opportunities and wages. Therefore, the supply of labour in any one market is determined by various economic factors, including the opportunities available in other markets.

The Supply of Labour in Any One Market Depends on the Opportunities