Law of supply Description

Types of Discrimination in the Workplace

In the workplace, everyone deserves to feel safe
and comfortable, which is why our government The law of supply is a fundamental principle
has important anti-discrimination and anti- of economic theory which states that,
harassment laws. As an employer, it is vital you keeping other factors constant, an increase
be aware of the common types of discrimination in price results in an increase in quantity
and implement policies to minimize their supplied. In other words, there is a direct
occurrences. Legally recognized characteristics
relationship between price and quantity:
protected against discrimination include the
following: quantities respond in the same direction as
price changes.
1. Age
Protected under the Age Discrimination in So what are the determinants of supply?
Employment Act, age is a characteristic often
targeted in instances of discrimination. This kind There are numerous factors that determine
of discrimination occurs when employers make supply, and there are a total of 6
decisions based on age stereotypes or determinants of supply, including:
preference over merit. For example, if a sales
company actively hires the youngest applicants, 1. Innovation of the technology
this is an example of age discrimination.
2. The number of sellers in the market
2. Disability
According to the Americans with Disabilities Act 3. Changes in expectations of the
of 1990, employers may not turn away qualified suppliers
professionals due to a serious disability. In fact,
many employers may be required to provide 4. Changes in the price of a product or
reasonable accommodations for a disabled hire. service
The document covers businesses with more than
15 employees. 5. Changes in the price of related
products
3. Race
In addition to protecting other characteristics, 6. Changes in tax and subsidies
Title VII of the Civil Rights Act of 1964 prohibits
workplace discrimination based on color or race.
Discrimination is prohibited at every point of the
employment process, from the initial application
to future career promotions. Segregation and
harassment based on race are also illegal under
this act.

4. National Origin
National origin is protected under the Title VII
Civil Rights Act of 1964, along with several other
characteristics. You are not allowed to deny job
 Law of demand
Description
In microeconomics, the law of demand states
that, "conditional on all else being equal, as the
price of a good increases, quantity demanded
decreases; conversely, as the price of a good
decreases, quantity demanded increases"
7 Factors which Determine the Demand for
Goods
1. Tastes and Preferences of the Consumers.
The own price elasticity of demand is the
percentage change in the quantity demanded
of a good or service divided by the percentage
change in the price. ... This shows the
responsiveness of quantity supplied to a
change in price.
In economics, income elasticity of demand
measures the responsiveness of the quantity
demanded for a good or service to a change
in income. It is calculated as the ratio of the
percentage change in quantity demanded to
the percentage change in income.

1. 2. Incomes of the People. Cross elasticity of demand

Description
2. 3. Changes in the Prices of the Related
Goods. In economics, the cross elasticity of demand or
cross-price elasticity of demand measures the
3. 4. The Number of Consumers in the Market responsiveness of the quantity demanded for a
good to a change in the price of another good,
4. 5. Changes in Propensity to Consume. ceteris paribus

5. 6. Consumers' Expectations with regard to The following points highlight the

Future Prices
seven main factors affecting the price
6. 7. Income Distribution: elasticity of demand. The factors
are: 1. Nature of the
7. Good 2. Availability of Substitute
Goods 3. Number and Variety of Uses
of the Product 4. Proportion of
Income Spent on the Good 5. Role of
Habits 6. Possibility of Deferment of
Consumption 7. Price of the Good.