Question

what market sector have labor market issue, and what solution we can provide

what market sector have labor market issue, and what solution we can provide

Homework Answers

Answer #1

Primary market or the agriculture market has labor market issue, there is an oversupply of labor to an extent that it creates unemployment even when people are employed i.e in agriculture there is a tendency to involve family members in farm work which leads to wages being equal to average product rather than marginal product because people are employed even when the marginal product is zero.

Solutions that can be worked out are creating more employment opportunities for these surplus people in a family which would leave the optimal number of people in family on the farms.

Another solution could be educate people in the families And give them skills such that they are fit for more skilled jobs hence reducing the burden on family farms

Child labor is also often used on family farms, education would curb that issue as well

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