Factor Markets Crossword
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
                                                          
 
 
Down: 1) demand for an input derived from the demand for the product produced with that input2) the situation in which the income effect outweighs the substitution effect of an increase in the wage at higher levels of income3) the sum of the factor demand curves of the various firms that use the input4) the relationship between the quantity of labor supplied by individuals and the wage6) a person’s accumulated knowledge and skills8) the relationship between the quantity of labor demanded by firms and the wage9) the situation in which there Is one buyer and one seller in a market12) the building of the skills of a firm’s employees while they work for the firm13) compensation that a worker receives excluding direct money payments for time worked15) the market in which individuals supply their labor time to firms in exchange for wages and salaries Across: 5) the change in total revenue due to a one unit increase in labor input7) output per hour of work10) a coalition of workers, organized to improve the wages and working conditions of the members11) the ability of a single buyer to pay less than the competitive price profitably14) a system by which workers are paid a specific amount per unit they produce16) the change in production due to a one unit increase in labor input17) the price of labor defined over a period of time worked18) the situation in which the quantity supplied of labor equals the quantity demanded of labor19) a situation in which there is a single buyer of a particular good or service in a given market20) the wage or price of labor adjusted for inflation
 

 

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