Examlex
Many unions attempt to raise the hourly wages received by their members by restricting the supply of workers firms can hire from.Assuming the demand for workers who belong to these unions is inelastic,this would cause:
Demand
The desire and willingness of consumers to purchase goods or services at a given price level.
Supply
The total amount of a product or service that is available to consumers at a given price point and time.
Technology
The application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machines, techniques, and systems.
Personal Computers
Computing devices designed for individual use, capable of performing a wide range of tasks including word processing, internet browsing, and gaming.
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