Question

How does the factors of elasticity affect unemployment rates for the major, SOCIAL WORK?

Answer 1

Elasticity determines the change in employment when there is an increase in the lowest pay. The wage is essentially the cost in the work showcase, the compensation versatility of interest is a case of the wage elasticity of interest in a market the pay flexibility of work request reveals to us all that we have to think about the impacts of an adjustment in the pay on business. In case that the interest bend is generally elastic, at that point an adjustment in the lowest pay permitted by law will prompt a moderately enormous change in employment. In case that the interest bend is moderately inelastic, at that point an adjustment in the lowest pay permitted by law will prompt a generally little change in employment. This is natural in light of the fact that the flexibility of work request reveals to us how delicate firms' recruiting choices are to changes in the pay. An elastic demand for work implies that organizations will react to a little change in the pay by lying off an enormous number of laborers, so the business impact will be huge. The flexibility of work gracefully isn't applicable on the off chance that we are concerned uniquely with business impacts.