Because scarcity forces people to make purposeful choices,labor market participants:
A)work as many hours as possible
B)respond to changes in perceived costs and benefits
C)make choices that cannot be predicted
D)must have perfect information

Question

Quizplus · Accepted Answer

Labor market participants need to respond to changes in perceived costs and benefits to make purposeful choices due to scarcity. Working as many hours as possible or making choices that cannot be predicted may not necessarily be purposeful and may not necessarily respond to changes in costs and benefits. Additionally, having perfect information is almost impossible in any market, let alone the labor market.

Because Scarcity Forces People to Make Purposeful Choices,labor Market Participants