Ecs2604 study notes - Study guides, Class notes & Summaries

ECS2604 - Labour Economics SUMMARISED NOTES. UNIQUE CHARACTERISTICS OF THE LABOUR MARKET LO2: Be able to describe the unique characteristics of the labour market THE SEVEN UNIQUE CHARACTERISTICS OF THE LABOUR MARKET o A product is not being bought but services of a person, a human being. o Principles of fairness, equity and humanness must be applied. o The services of the worker are being bought and not the worker therefore a contractual agreement is important in that relationship. o The ...