Question

What effect over the last decade, has the increasingly efficient and inexpensive technology of online college courses had on the college textbook market? O The demand for physical textbooks have steadily decreased, and as a result more publishing companies are having less demand for high skilled textbook editor jobs. The demand for textbooks has declined resulting in publishing companies increasing their demand of textbook editor jobs. O The supply for college textbooks has increased as a result there are fewer textbook publishing companies

Answer 1

Q1) The answer for this question will be Part A that is the demand for physical textbooks have steadily decreased and as a result more publishing companies are having less demand high skilled textbook editor jobs. As more and more study material is available online at lower costs which are really efficient, it has caused a shift in demand from physical textbooks to online courses which are readily available. As a result of this, the demand for physical textbooks has decreased because of which the jobs for the editors of these books has also decreased since less number of such books are now sold in the market. Increase in the availability of online books at lower costs decreases the demand for physical textbooks which in turn decreases the demand for high skilled textbook editor jobs.

Q2) Labor market is the market which represents the interaction of employers and workers. Workers try to find out the satisfying job for themselves and employers try to hire the best people for the organisation. The answer to this question Part A that is in the labor market for car repair, the demand would be represented by automotive body shops and glass repair and replacement companies and supply represented by the automotive workers. Since the demand for repairs is increasing in the market. in the labor market the demand for workers in the automotive repairs market will also increase. Since we are talking about the labor market in this case, the demand represents the demand of workers by the employers and in this case the employers are the replacement and repair companies and workers will decide how much of their labour they are willing to supply and the workers in this case are the automotive workers and they represent the supply in the labour market.