What would cause a shift in labor supply and demand?

Question

I need to write a scenario that would cause a shift in labor supply and demand in the cruise industry.
I need to focus on the following:

1. Why has this shift occurred?
2. In what direction would the shift in labor supply and demand go?
3. What would be its effect on the equilibrium of the labor market?

Answer 1

1. could be anything (stock market crash causes lots of unemployment)
2. labor supply would increase, demand would decrease. you would have more available workers because so many are unemployed. you would have lower demand because companies want to cut costs and their positions are already filled.
3. i can't remember. draw the two curves and do a rough plot of the before and after. i could tell you if i remembered which axis was supply and which was demand. i think the equilibrium shifts down and to the left, but check and make sure.

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Answer 2

A terrorist attack on a cruise ship would cause many people not to go on a cruise, so would reduce the demand for labor. It might also reduce the supply of labor, as workers would also be fearful. However much of the labor on cruise ships is provided by poorer countries, so economic conditions in their home countries would probably be more important for the labor supply.

Answer 3

Excessive government regulation, absence of standards in production and quality of product, consumer trends, marketing, economic growth, viability of new products, excessive spending by company, doubt casted by shareholders, imposition of unionization, higher wages, tax cuts, corporate welfare, new innovation and technology, etc.

Answer 4

much less everybody is had to do instruction manual hard artwork via fact of an improve in technologies. well-being problems are ordinary and healthcare is often needed for one in each of those scientific concerns.

Answer 5

I don't know, sorry.