Ashy A.
asked  11/18/21Economics question
Will a decrease in workers change the movement along the supply curve of a good or shift the supply curve? I'm reading an article for my economics class, and I'm confused on how the situation in the article will affect the supply curve. Link of the article is in the comment. (might take a while to load because it's currently under review by wyzant)
1 Expert Answer
Travis K. answered  11/19/21
Economics Tutor for MBA, Intro (Principles), AP Micro / Macro classes
A decrease in the number of workers available in a labor market will shift the supply of labor leftward. For example, say a country experiences a decrease in working-age population by 5%. This will result in fewer workers at every wage, which is represented as a leftward shift in the supply curve.
A change to wages in a labor market is what causes a movement along the curve. This is similar to the law of supply analysis where an increase in price will increase the quantity supplied. It's the same in a labor market except that is humans willing to work.
Still looking for help? Get the right answer, fast.
                Get a free answer to a quick problem.
                Most questions answered within 4 hours.
            
OR
Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.
 
     
             
 
                     
                     
                    
Ashy A.
https://www.washingtonpost.com/us-policy/2021/11/10/labor-shortage-christmas-season-vermont/11/18/21