Ex.7. Fill in the gaps with appropriate prepositions or adverbs.
1. … the labour market, labour services are exchanged and those negotiations occurring … buyers and sellers partly determine the placement … workers … jobs … specified wages, benefits, and conditions … employment.
2. The demand … labour comes … employers and is derived … their need to employ workers to produce goods and services.
3. The size … the labour supply is determined … the number … individuals … working age as well as the proportion … the working-age population that wishes to work.
4. … a market … a commodity such as wheat, it seems reasonable that an excess supply results … a drop … its price as sellers underbid each other … order to attract buyers.
5. Buyers, … turn, would probably choose to deal … the lowest-priced seller as long as there are no meaningful quality differences … sellers.
6. … the labour market, however, excess supply does not typically result … price reduction. 7. Hiring practices … the firm may determine who can compete … particular jobs.
8. Other economic transactions are … a short-term nature … comparison to the relationship that develops … a worker and a firm.
9. One important implication … the long-term relationship … workers and firms is that wages and employment levels are less-responsive … supply and demand forces … they otherwise would be.
10. Labour market exchanges are dependent … numerous factors … addition … price.
11. It is important … both labour demanders and suppliers to acquire an adequate amount … information … the other party … transacting … the labour market.
12. If firms and workers are searching … each other … a country, the market is described … the national labour market.
13. The search … highly skilled technical and professional occupations is often carried … … a national basis.
14. … the other hand, if the area … search is … the local community, the market is described … the local labour market.
15. Mobility … occupations is limited … some fairly obvious factors.
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