On the supply side of the labor market, workers are not homogeneous in their mental and physical capacities or in their education and training.
The supply and demand for labor, wherein employees give the supply and employers provide the demand, are referred to as the labor market, also referred to as the job market. It is a crucial part of every economy and is closely connected to the markets for capital, goods, and services.
According to the supply-side hypothesis, economic growth is inevitably fueled by expanding the supply of goods. According to the supply-side school of thought, rather than attempting to manage the economy by regulating prices and wages, the government should concentrate on boosting economic output by lowering taxes and decreasing regulations.
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