Supply and Demand Globally

In: Business and Management

Submitted By ShirleyLeo
Words 3036
Pages 13
Supply and Demand Globally Shirley Leo Argosy University

This discussion will include the definition and how it is used to determine the demand for labor. The factors used to determine the supply of labor market will be discussed. This will include the factors that have changed the supply of labor market over the last twenty years. Price and quantity of labor determination over a period of will be explained. Income inequalities will also be determined, if there are any. The way that income inequalities are measured, and how they have changed from 1980 to the present will be discussed. What role does the government play in the terms of inequality? There will also reasons for this and against this provided. Next, nations trading will be discussed. The concept of “Comparative Advantage” will be discussed. If a nation had an isolation policy would they be better off economically will also be answered. Then the trade balance of the United States will be discussed. The problems with having a negative trade balance, and how it can be corrected will be included in this discussion. The last thing that will be discussed is the exchange rates. The significance of currency devaluations concerning the United States, as well as other countries will be the last thing discussed. Now, to discuss derived demand.
Derived demand is the product that is produced by labor for a consumer (McConnell, Brue, Flynn, 2010). This demand can be an increase or a decrease. A good example of this is business that sells DVD’s. When a customer comes in asking for a certain DVD this creates a demand. Derived demand starts with the demand of the customer. When the customer demands the DVD this creates a “flowing value chain from right-to-left” (Lohrey, 2015). When a…...

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