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Conditions of entry and exit are important determinants of market behavior and outcomes. Imagine yourself working...

Conditions of entry and exit are important determinants of market behavior and outcomes. Imagine yourself working in a firm that sells skills, abilities, and time to other firms. In other words, you are a supplier of an input to the processes of other firms, or possibly directly to consumers.

  • Analyze the conditions of entry and exit in the market for your labor.
  • Have these, directly or indirectly, influenced your choice of job, occupation, and career?
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Answer #1

Conditions for entry include the minimum wage policies, competition available, impact of skill and also wage policies income tax etc. Conditions of exit include the change in wages from.one to other organisation, locational preference, recession phase etc.

These directly impact out choices because if the competition is more in one career, then one would definitely take a back step in choosing. If the wages in a particular career are low, again the choice will be limited etc.

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