International investment bank21-Awall streetnew YorkMemoTo :managerFrom :research assistantDate : April 17 , 2009 This memorandum is in response of your latter dated April 13 , 2009 . This memorandum is to luxuriant take aim and supply and its effect on wages enume mark of IT professionalsFirst of all we must have a concept of contract and supply Demand is that fall apart of goodness which is required by consumer at whatever particular price . Law of carry stated that If other things die hard constant , than quantity engage is inversely proportional to price of that commodity and vice versaSupply is that part of commodity which is sold at market at any particular priceLaw of supply is stated as if other factors remain constant than quantity supplied increases with an increase in price of that commodity and vice versaEconomics , chapter 2-4 .
Lahore , PakistanConsidering both these laws an residue price can be established and define as it is principal where quantity demand of a commodity is equal to quantity supply i .eQd QsIn a perfectly competitive environment wages rate of IT professionals ordain increase when there are few IT professionals in our locality as decline in supply will increase demand for IT professionals in our locality and push equilibrium level to set a new equilibrium point and vice versa when there are large IT professionals than it will drop-off wages level to set a new equilibriumEconomics . eighth edition 2005 , chapter 4 , Mc Graw HillIT professionals must...If you want to get a full essay, order it on our website:
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