CHAPTER 8: LABOR AND EMPLOYMENT

FIRST REPORTER: CARIQUITAN, JUSTINE

I. INTRODUCTION
 Define the differences between Labor and Employment.
II. LABOR PROBLEMS
III. AREAS OF LABOR PROBLEMS
 Unemployment and underemployment
 Inadequate wages
 Industrial and Labor Management Conflict
 Economic Insecurities

SECOND REPORTER: CRUZ, CRIZELDA

IV. SUBSISTENCE THEORY OF WAGES

V. FACTORS AFFECTING THE THEORY
 The Laissez-Faire Theory
 Thomas Malthus
 David Ricardo
VI. CLASSICAL THEORY

THIRD REPORTER: DEGUILMO, PATRICIA

VII. THE DEMAND FOR LABOR

VIII. DEMAND FOR LABOR AND TOTAL PRODUCT
IX. THE SUPPLY OF LABOR
X. THE EQUILIBRIUM POINT
XI. CHANGES IN THE SUPPLY CURVE

FOURTH REPORTER: CHATTO, NESTHLIE JEAN

XII. KEYNESIAN THEORY

 Keynes’ Theory on Employment
 Labor Markets Are Not Self-Correcting
 Labor Supply is a Function of Money Wages
 The Cure to Unemployment

FIFTH REPORTER: DELA CRUZ, SHARMAINE

XIII. BURDENED BY CRISIS

 Less Resources
  Deterioration of Living Standards
 Increasing Unemployment
XIV. POST-GARMENTS QUOTA PHILIPPINES
 Losing the Edge
 Poductivity