What happens in a perfectly competitive labor market? Here is a video in which an economics instructor explains how workers and firms must set their wages based on the market

Additional Tags

law of diminishing marginal return, labor market, social studies

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Classroom Considerations

• Instructor moves quickly through explanation, so you may wish to use as review or assign as a flipped resource that learners can move through at their own pace
• Appropriate for an advanced placement class

• This video is hosted on YouTube

Pros

• Illustrates economic concepts by drawing graphs on a whiteboard as he provides his explanations

Cons

• None

Common Core

RH.11-12.2 RH.11-12.4