Question
In the following employment scenarios, determine whether the employment rent would be high or low. Justify your response with practical illustration where applicable. i.) A
In the following employment scenarios, determine whether the employment rent would be high or low. Justify your response with practical illustration where applicable. i.) A job with Fonterra offers many benefits, including housing, transport allowance, and medical insurance. ii.) The global pandemic has resulted in an economic recession (downturn), such that the ratio of job-seekers to vacancies is very high. iii.) Freeman, who works for a local firm in Hamilton, is paid a high salary because she is a qualified civil engineer and there is a shortage of civil engineering skills in New Zealand. iv.) Ophelia who works for the Warehouse Group, a local business entity in Hamilton, is being paid a high salary because her customer service has won the heart of the firm's customers, leading to increased sales. (Note: discuss the scenario where we assume that (a) Ophelia's positive service is known to the firm's competitors, and (b) her positive attitude is unknown to other rivals and therefore a warehouse-specific asset). v.) The unemployment benefit offered by the government is high and the duration is fairly long (say 6 months).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started