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ECS2604 - Labour Economics SUMMARISED NOTES.
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ECS2604 - Labour Economics SUMMARISED NOTES. THE SEVEN UNIQUE CHARACTERISTICS OF THE LABOUR MARKET o A product is not being bought but services of a person, a human being. o Principles of fairness, equity and humanness must be applied. o The services of the worker are being bought and not the worker therefore a contractual agreement is important in that relationship. o The market is characterized by great diversity o The individual worker changes over time o There is not one single market or clearing house e.g. JSE o The price of labour is complex
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ecs2604 labour economics summarised notes
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labour economics summarised notes
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