PRODUCTION, COSTS AND PROFITS

Production, Costs and Profits

Production, Costs and Profits

Factors that Increase Demand for Labor

The factors that increase the demand of labor are various; however, the major factors that play vital part in increasing the demand of labor are;

- Productivity: If labor productivity is very high, the employer will be happy to hire someone with a higher salary, because it pays; if productivity rises in demand too.

- Prices of goods produced: If the price of good increases, companies will want to increase their production and this will make more work is demanded.

Cost of Labor in the Short ...