1. The Effect of Invisible Hand to Society
... to labour markets. The firms would aim for keeping low wages to minimise cost of productions in order to maximise the firms' profits, therefore a negative gradient of demand curve. The labours would prefer to obtain high incomes rather than low incomes i.e. maximising wages, therefore a positive gradient of supply curve. As a result of both workers' and firms' benefit maximisation (selfishness), the wages ... ...
- Word Count: 2544
- Approx Pages: 10