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Labor Economic Market 1: Labor MarketY study LEPersonal Perspective: Direct relevance to us, management positionSocial Perspective: Current socio-economic problemQuantitative Importance to economy: labor important source of household income (wage size)Labor Market= unique featureWork deliver themselves,Continuity of employment, relationsMultiplicity of marketHeterogeneity of workers and jobsBasic of LM: LM outcomeChange level of composition of LB supply Change.