Quantity of labor hired
Definition
The quantity of labor hired refers to how many workers are employed in a particular industry or company, usually measured as hours worked or number of employees.
Related terms
Labor productivity: The amount of output produced per unit of labor input.
Subsidies: Financial assistance or incentives provided by governments to firms that hire additional workers.
Labor market flexibility: The ability of employers to adjust the quantity of labor hired quickly in response to changes in demand or other factors.
"Quantity of labor hired" appears in:
Practice Questions (1)
In a perfectly competitive labor market, if the demand for labor decreases while the supply of labor remains constant, what will happen to the equilibrium wage and the quantity of labor hired?
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
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Glossary
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.