Unit 4 Business Environment - Investigate the behaviour of organisations and the market environment
Issues relating to supply
What affects the ability of organisations to supply a product?
Determinants of Supply
Influences on supply
- weather
- competition
- cost of raw materials
- cost of capital
- cost of labour
Shifts to the left & right...
What causes shifts to the left?
What causes shifts to the right?
Labour market
Demand for labour comes from businesses and organisations.
Supply of Labour are those people who are willing to work.
Price of Labour is the wage.
Influences on labour market
- skills
- training
- education
- legislation
- EU directives
- minimum wage
Impact of labour market on supply
What is the impact of the Labour Market on the supply of goods and services?
