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Essay text:
This was the time that there were limited numbers of mortgage professionals available on the job market.
This is to illustrate the law of demand. When there were not many mortgage professional on the job market looking for work, employers were more willing to pay above-market salary and benefits packages to attracts and recruit these workers. “Law of demand is a fundamental characteristic of demand. All else equal, as price falls, the quantity demanded rises, and as price rise, the quantity demanded falls.” (McConnell-Brue, 2004, p. 40)
Income effect.
My family has two vehicles, one large SUV and one midsize sedan...
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