An Overview of the Factors Affecting the Supply of Labour
This post will help you to further your understanding of the factors affecting the supply of labour, as part of your Prelim Economics syllabus. Factors that affect the supply of labour include:
- Pay and remuneration;
- Working conditions;
- Human capital, skills, experience and education and training levels;
- Occupational and geographical mobility of labour; and
- The participation rate.
The video below explains this in more detail.