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AP Microeconomics - Changes in Factor Demand and Factor Supply

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How does worker productivity shift the demand for labor?

A more productive worker is more valuable to a business

How do changes in the prices of resources shift the demand for labor?

The availability and desirability of substitute and complementary resources increases or decreases the demand for products, thus changing the demand for labor

What is the primary shifter for the supply of labor in any given field?

Wage

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Institution Junior / 11th grade
Course Microeconomics

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5.2: Changes in Factor Demand and Factor Supply

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AP Microeconomics notes from Unit 5, Section 2: These notes cover shifters of supply and demand for labor.

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