In the Following Graph, S and D Represent the Supply

question 27

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 £7:

• A) there is a surplus of 100 workers.
• B) there is a shortage of 150 workers.
• C) there is a surplus of 200 workers.
• D) there is a shortage of 275 workers.

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Definitions:

Endocrine Glands

Endocrine system glands which secrete hormones directly into the bloodstream, thereby regulating different body functions.

Master Gland

A term often used to describe the pituitary gland due to its role in controlling several other hormone-secreting glands.

Endocrine System

A network of glands in the body that secrete hormones directly into the bloodstream to regulate various bodily functions, including growth, metabolism, and mood.

Hormones

Chemical substances produced in the body that regulate and control the activity of certain cells or organs.