What Is One Difference Between the Labour Market and Markets

Question 37
Multiple Choice

What is one difference between the labour market and markets for goods and services? A) The demand in the labour market is inelastic; the demand for goods and services may be elastic or inelastic. B) The supply of labour is perfectly inelastic because the quantity supplied is constant. The elasticity of supply for goods and services is different in different markets. C) Concepts of fairness arise more frequently in labour markets than in the markets for goods and services. D) In the labour market, firms are suppliers while households are demanders.