Final answer:
Factors influencing the decision to work include economic conditions, job attractiveness relative to alternatives, education requirements, and government regulation.
Step-by-step explanation:
The factors affecting the decision to work and the supply of labor include economic conditions, personal preferences, government regulations, and job availability. A key assumption of the supply of labor is that individuals will make decisions based on how desirable a job appears relative to the alternatives. This desirability can be influenced by various factors such as government policy that impacts the quantity of workers trained for a job, the overall number of workers in the economy, and the required education for certain positions.
Other factors that can shift the supply curve for labor are labor force participation and economic conditions at large. For example, companies might look to cut wage costs by automating certain jobs, affecting the demand for human labor. Furthermore, the activities of labor unions and safety laws can impact wages, either by setting minimum wage thresholds or creating work environments that justify different wage levels.