Cost of labor- Cost of labor depends on availability of resources. If number of

Question

Cost of labor- Cost of labor depends on availability of resources. If number of options available then cost become competitive. In given statement if number of job available more, then bargaining power available to worker and require skill is at second priority. "B" dose not hold bargaining power as ample manpower exist.In option A,C,D more skill require and manpower resources are less hence hold bargaining power. In option "D" as network administrator job require more skill as compare with delivery boy . Hence option "D" is best option.

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To accesses market condition, it would be best to look at the (1) unemployment rate ; When this rate is high workers will have less bargaining power.

explanation - if employment not available to labor it result in stand by labor available and this devaluate labor cost rate. And labor available at minimal cost.Here the rule " its buyer market, where buyer decide the cost of product".

Explanation / Answer

7. Even in the absence of collective bargaining, workers do have some bargaining power that allows them to receive wages higher than their reservation wage. Each worker's bargaining power depends both on the nature of the job and on the economy-wide labor market conditions. Consider the job of a delivery person and a computer network administrator. In which of these jobs does a worker have more bargaining power? A. A delivery person would have more bargaining power because the job is more skilled. O B. A network administrator would have more bargaining power because there are many workers O C. A delivery person would have more bargaining power because there are many jobs that O D. A network administrator would have more bargaining power because the job is more skilled. with the same skills require the same skills. To assess labor market conditions, it would be best to look at the (1) have (2) (1) O separation rate when this rate is high, workers will , bargaining power. (2) O greater O less 0 unemployment rate O labor force participation rate O GDP growth rate

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