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1.MOHAMMAD TAUFIIQ BIN MOHAMAD SHAHBANDI (D067712)
2.HASWANI BINTI ABD HAMID (D067730)
3.MUHAMAD SAIFULLAH BIN OMAR (D067717)
4.AHMAD FIRDAUS BIN JAUHARI (D067652)

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Labour Supply   Explained Labour Markets   tutor2u Economics 2

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In micro-economics, market equilibrium price is the price that equates demand and supply. In macro-economics, national income is in equilibrium when aggregate demand (AD) equals aggregate supply (AS).

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Difference between Single and Multiple Equilibrium.

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Difference between Single and Multiple Equilibrium.

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- It shows how many choices occur in a graph based on factor.
- Single equilibrium shows ONE choice in a graph.
- Multiple Equilibrium shows 2 or more choices for firms to make decisions.

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NUMBER of HOURS the LABOURERS is WILLING to WORK

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NUMBER of HOURS the LABOURERS is WILLING to WORK

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Number of Hours the Labourers is Willing to Work.mp4

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Labor supply curves are derived from the 'labor-leisure' trade-off. More hours worked earn higher incomes but necessitate a cut in the amount of other things worker enjoy such as going to movies, hangang out with friends or seeping

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- It helps students to enhance their understanding about the subtopic.
- Have strong correlations between graph and the reality in life happened to firms.