Labor markets in Marin County
Anytime we are talking about allocating resources in a market system, we can model the free market using supply and demand. Keep in mind, not all markets are free. What are some other ways of considering Labor allocation if it is not in a free market?
The theory of labor can be considered from many perspectives in history. But to start your micro economic understanding we extend the learning of supply and demand in the goods and services market (g&s), where households demand g&s, and firms supply g&s. But in the resources market, in this case Labor is the productive resource, households supply labor for a price, and firms hire labor for a cost (their price), firms demand labor as we economists say.
watch the 18 minute recorded lecture below.
After you watch the video, go to labor market information site for Marin County.
https://www.labormarketinfo.edd.ca.gov/geography/marin-county.html
Search that website for Marin County labor market information starting on the landing page of Marin County. Find something interesting to you.
Scroll down, and click on some links that take you to more information about Marin County labor market data.
Take some notes as you look around. Note specific economic labor market data points.
Using information you learn in the video below about demand and supply in labor markets and the information you found out about in the Marin County labor market, to discuss what you are learning.
Write a One-Page-Thought paper that relates what you learned in the video and what you learned in the online labor market database of Marin County information. 300-500 WORDS
Practice writing: use full sentences, spell check, add facts and or and statics, share what you find interesting and bridge your understanding with what you are learning and communicate it in One-Page-Thought paper of approximately 300-500. words
Submit your One-Page-Thought paper as a text entry or file attachment by the due date to be assigned 2 peer reviews.