International investment bank21-Awall street unused YorkMemoTo :managerFrom :research assistantDate : April 17 , 2009 This memorandum is in response of your latter dated April 13 , 2009 . This memorandum is to expatiate need and supply and its effect on wages regularize of IT professionalsFirst of all we must have a concept of fragment out and supply Demand is that offend of trade keen which is required by consumer at either particular charge . Law of contract stated that If other things tole ramble unending , than quantity beg is inversely proportional to value of that trade good 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 symmetricalness price can be established and define as it is crest where quantity demand of a commodity is equal to quantity supply i .eQd QsIn a perfectly competitive milieu wages rate of IT professionals exit increase when there are few IT professionals in our neck of the woods 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 commodious IT professionals than it will descend wages level to set a new equilibriumEc onomics . eighth edition 2005 , chapter 4 , ! Mc Graw HillIT professionals must...If you lack to get a full essay, order it on our website:
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