Economics Supply and Demand

A detailed Summary of Economics Supply and Demand

In the article we find that teenagers have the oppertunity to be demanding about their

salary in the baby sitting field, because the amount of babysitters today are scarce. The

babysitting population, teenagers, find themselves busy with school, part time jobs, and

extracirricular activity. Teenagers with drivers licenses are even more scarce than those

with out, all in all, It's hard to find a babysitter. Times have changed, just twenty years

ago there were 33 million children who needed to be watched, and 39 million

babysitters(age 10 - 19), recent polls suggest that children that need to be watched raised

18 percent to 39 million while baby sitters dropped 5 percent to 37 million. The rise in

over the federal minimum wage of $5.15 an hour because they are in demand, and scarce;

advantage of a noncompetitive work force, allowing the baby sitter to set the price with

while the demand for them rose. This is what we would concider the begining of an

between the baby sitters resulting in price decreases. Today with fewer baby sitters, all

would see a left shift of the curve while demand for baby sitters rises, from 1980 to 1996.

allowed the babysitters to set their price with out haggeling. Baby sitters are making well

babysitters set the highest prices by up to 60% from a "novice" sallery of $4 to a "expert"

n families spending more time out then years ago, has

We also see that the most experienced, oldest, responcible, and best trained

Approximate Word count = 523
Approximate Pages = 2 (250 words per page double spaced)

Category: Politics

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