Explain Market Wage Rates as a Source of Information for Forecasting

question 20

Essay

Explain market wage rates as a source of information for forecasting the supply of human resources.

---

Definitions:

Constrain

A limitation or restriction on actions or outcomes.

Opportunity

A situation or condition that places an individual in a favorable position to achieve a desired outcome.

Negative Reinforcement

A type of operant conditioning that involves the removal of an unpleasant stimulus to increase the likelihood of a desired behavior.

Conditional Punishment

Rendering a consequence that reduces the likelihood of a behavior occurring in the future by associating it with an aversive outcome.