In the Following Graph, S and D Represent the Supply

question 22

Multiple Choice

In the following graph, S and D represent the supply and demand curves respectively, in the labour market. Refer to the graph to answer the question. When the wage in the market is set at £15:

• A) there is a surplus of 300 workers.
• B) there is a shortage of 100 workers.
• C) there is a surplus of 200 workers.
• D) there is a shortage of 275 workers.

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Definitions:

Mind Receptivity

The willingness or ability of the mind to receive and consider new information or ideas.

Comprehension

The ability to understand and grasp the meaning of something.

Good Character

The possession of virtuous qualities such as integrity, honesty, courage, loyalty, and fairness, reflected in one's behavior and decisions.

Integrity

Firm adherence to a code of moral values.