Use the Following to Answer Question(s): Labor Market

question 105

Multiple Choice

Use the following to answer question(s) : Labor Market

-(Exhibit: Labor Market) Given competitive market demand curve D and initial union members supply curve S, the effect of a union reducing the supply of workers in the factor market is illustrated by a:

• A) new demand curve FTD′.
• B) new supply curve FTS.
• C) new supply curve GVS′.
• D) shift in the supply curve to S′.

---

Definitions:

Ultimate Consumer

The final buyer who purchases products or services for personal use and not for manufacturing or resale.

Pulling Strategy

A marketing strategy designed to create demand from the end-users, effectively "pulling" the product through the distribution channel.

Demand Generation

Strategies and tactics employed by companies to create awareness and demand for their products or services, often involving marketing and sales efforts.