Supply and Demand of Labor Markets

The supply and demand of labor markets is much like the supply and demand of products.  When the supply of wages is high, many more people try to attain that position. When the supply of wages is low, less people try to attain that job, and if they do take that job, most of of the time it is by necessity.  Athletes, models, and doctors make so much money because it is harder for those types of jobs to be attained, so each person is supplied with higher wages.

I would like to be a doctor, which is a difficult job to attain due to the amount of education required to do so.  However, it is not as difficult as becoming a professional athlete or a model, which requires a certain body type.  Many people try to become doctors, but with the competitiveness of medical school, it is very difficult.  If I do end up becoming a doctor, I will be making a very good amount of money, but no where near as much as professional athletes or models.