A labor market is a geographical area within which the forces of supply interact with the forces of demand,and thereby determine the price of:
A) goods and services.
B) labor.
C) recruitment.
D) headhunter fees.

Question

Quizplus · Accepted Answer

A labor market is defined as the area where workers are available for employment and employers are looking to hire workers. Supply and demand of the labor force within this area determine the price (wages) of labor. Therefore, the correct answer is B) labor.

A Labor Market Is a Geographical Area Within Which the Forces