TERMIUM Plus®

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SUPPLY PRICE [1 record]

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Alphabetical list of terms

Record 1 2015-04-23

English

Subject field(s)
  • Pricing Theory
  • Foreign Trade
CONT

Since people place a positive value on leisure, it is clearly inappropriate to assume that there is zero opportunity cost in employing labour which would otherwise be unemployed. Rather, the correct shadow price of this labour is its supply price, that is, that wage which is just sufficient to get it to work. One might suppose that the supply price of unemployed labour will be functionally related to the level of unemployment insurance benefits and to the average duration of unemployment.

French

Domaine(s)
  • Théorie des prix
  • Commerce extérieur

Spanish

Campo(s) temático(s)
  • Teoría de fijación de precios
  • Comercio exterior
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