The long-term nature of the employment relationship, Business Economics

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The long-term nature of the employment relationship

The long-term nature of the employment relationship:

a. motivates household members to seek market work in order to earn an income. (b) reduces the sensitivity of wage rates to changes in demand and supply. (c) is a consequence of demand and supply in competitive markets. (d) arises from the fact that labor is a factor of production which business firms need if they are to produce a market.

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