Unit 4: Labor and Efficiency: Resource Markets, Inequality, and Immigration

Lesson 12a: Demand For Resources

Something Interesting - Why are we studying this?

Look at the websites below. Lowest Paying College Majors: http://money.cnn.com/2015/05/08/pf/college/lowest-paying-college-majors/index.html   Highest Paying College Majors: http://money.cnn.com/2015/05/07/pf/college/highest-paying-college-majors/index.html   Why are people paid differently? ANSWER: The supply and demand for labor helps explain why different people and different jobs receive different wages. But there are also other factors that we will need to explore. We will end up with 8 to 10 different labor market models that will help us answer this question.

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