Question

Match the scenarios to the factors that affect the labor market. 1. Carlos is moving from mexico to the united states because he got a job in a bank. he had his interview last month, and the bank agreed to hire him because he was willing to work for 10% less than most american workers, even though he has the same qualifications. 2. a us supermarket chain is going to open a few supermarkets in europe because a recent survey showed that the chain has a huge potential for profits in europe 3. a renowned us information technology firm has recently signed a contract with a company based in the philippines, the filipino company will handle the accounts of the us firm. the us fir made this decision to reduce labor costs

Answer 1

Factors affecting the labor market include wages, market potential, and outsourcing.

Step-by-step explanation:

Scenarios:

1. Carlos moving to the United States due to a job opportunity at a bank is an example of labor market factors such as wages and qualifications. Carlos being willing to work for a lower wage than most American workers affects the labor market by potentially driving down wages for other workers.
2. A US supermarket chain opening supermarkets in Europe based on a survey showing potential profits is an example of market potential affecting the labor market. The chain's decision to expand and create jobs in Europe will impact the labor market in that region.
3. The US information technology firm signing a contract with a company in the Philippines to reduce labor costs is an example of outsourcing affecting the labor market. This decision impacts the availability of jobs in the US and the demand for labor in the Philippines.

Answer 2

We can match the scenarios to the factors that affect the labor market as follows: 1. Outsourcing

2. Immigration

3. Foreign Direct Investment

What are the scenarios?

In the question, we have three different scenarios related to the labor market. in the first instance, we can see that the bank in the United States agreed to hire Carlos because he was willing to work for 10% less.

By so doing, they reduced costs and outsourced the job to a citizen of another country. Immigration is clearly seen in the movement of the supermarket chain to another country. Foreign Direct Investment is reflected in the document signed between the companies.