1) Derived demand is used in economics to describe the demand that is placed on goods or a good or service as a consequence of changes in the price for some other related good or service. It is a demand for some physical or intangible item where a market exists for both related goods and services in question. The derived demand can have a significant impact on the derived good's market price. The concept of derived demand helps to control the demand for labor through one product needing the use of another product. (Tejvan Pettinger, November 28, 2012)
2) The factors that govern the source of labor in a market are buyers and sellers. Most markets we come across individual people such as you and I and groups of people such as families that needs goods and services and the firms which supply goods and services, such as stores. The labor market works in a parallel way, except the roles are reverse. This market, mostly all firms require labor and individuals such as you and I supply their requirement for a wage compensation. By looking for a job, you are participating actively in the market of labor. The labor market works much like other markets. There are buyers and sellers and they both interact with one another to determine a price of an item. In this case, the "good" being bought and sold is labor and the price for that good is the wage compensation mention earlier. That is, in the labor market, employers are willing to buy more hours of labor at lower wages than at a higher wage. (Lawrence Mishel, September 11, 1995)
3) The significant factors that have changed the supply of labor over the last twenty years our numerous ones. Changes in society and in the make-up of the population affect the labor market many different ways and numerous areas as well. The more people born mean more people who will need work in the future and this can become an issue when employing people in the role of laborers. Woman have always been looked at as leaser than in the labor market which is very wrong. Their roles have gained little to no respect in the labor market. Starting from woman’s roles in the labor market to the teenagers with little to no skill joining the labor market early in age. For example, starting in the 60’s it became more common for married females to work outside the home and join the men in the labor market. A large number of woman-many with little to no experience entered the labor market for the first time during this difficult time is society. As a result of this action, wages for entry-level jobs were pushed down. This decline furthered dwindled due to teenagers who were entering the market with little to no skills as well. Also when more college students gained their degrees, starting salaries and even the force itself decreased due to over qualified applicants flooding the market. Which made it very hard for people to make a decent living and therefore affected the economy as whole. For the supply of labor to begin to process of change of labor, we must as a country be able to view each person as just as person and pay them what their skill level is worth and not based off their gender or age. Skill level should be the only reasoning used to justify some ones pay. Effects on the labor market is based off of many issues and once these issues are resolved then the country can truly begin to heal the economy. Being over qualified for a position should not be a statement allowed during the job seeking process. This is what people say to not have to hire someone and pay them the deserve wage that they deserve as a new employee, which is another issue that is bring down the economy over time. The firms who sold goods and services for supply and demand now become the buyers in the labor market. Firms need workers to make products. No worker will do this for free, and so firms must enter into the labor market and buy labor.
4) Income inequality is a measurement of the distribution of wealth across households. This assesses and it also compares the gap in household incomes across any given region of the world. Income inequality is measured by the “Gini coefficient” and it also gages the extent to which the income distribution in a country strays from perfect equity. A Gini coefficient of zero indicates perfect equality. This is when all people alike earn the same income and a coefficient of one indicates perfect inequality. This is when one person holds all the income and everyone else has no income. Measuring income inequality is often used as a standard determination for the welfare of a society or country the relative poverty (Poor) or prosperity (Riches) of a society and used to justify policy attempts at income redistribution to certain sectors of said economy. Technical change has contributed to greater prosperity by raising the productivity of capital and labor, but a side effect of recent technical change has been a redistribution of income in favor of owners of high-skilled labor. The Gini coefficient has been the most popular method for operationalizing income inequality. Another way to measure income inequality is through theil-index, decile dispersion ratio, and share of income/consumption of the poorest.
5) The U.S. government is working to address income inequality and poverty with in the states. The government has several policies in place to address income inequality and poverty with the United States. Progressive income tax is one policy. I don’t think that the government should get involved with dealing with problems of income inequalities for the con side. Income inequality is an acceptable and unavoidable component of a productive economy. The government should not intervene by attempting to control income inequality in any means. Many of the social externalities that have been linked to income inequality, such as poor health care, lack of opportunity and higher crime rates, are in actuality repercussions of poverty and not directly linked to income inequality itself. The government's role should therefore be to focus its resources on helping the impoverished.
6) Countries trade with one another when they do not have the resources, or enough of said resources or do not have capacity to satisfy their own needs and wants for their country on their own means. By developing and sharing their domestic resources, countries can produce a surplus, and trade this for the imported resources they need or may want. The theory of comparative advantage states that if countries specialize in producing goods where they have a lower opportunity cost, then there will be an increase in economic welfare. This may not be true in all aspects. I do not agree that a nation would be better off with the policy or doctrine of isolating. This is due to the fact that isolating leaves one alone and force to fend for one’s self during a time of crisis and during these times are when we need to come together and help one another, especially for nations and the resource which may help another nation in times of crisis.
7) The issues associated with the United States having a trade imbalance is due to the trade deficit. Many attempts have been made to create economic excuses for the trade deficit. Trade deficits have harmed the domestic economy in many ways. The steady growth in our trade deficits over the past two decades has eliminated millions of U.S. manufacturing jobs. Between 1979 and 1994, trade eliminated 2.4 million jobs in the U.S.2 Growing trade deficits were responsible for most of these job losses, which were concentrated in manufacturing, because most trade involves the sale of manufactured goods. To correct the imbalance, large amounts of the U.S. dollar must stop being held by foreign nations, which may decide to sell at any time and remain in the control the United States.
8) Exchange rates are determined by the most basic factors of supply and demand. The demand for any currency is influenced by many factors, such as rates of interest, growth of economics and inflation. An example of this is if there was greater demand for American goods then there would tend to be an appreciation (increase in value) of the dollar to buy said good. The significance of currency devaluations to the home country could be due to many reasons. One reason a country devalues its currency is due to boosting exports. On a world market, goods from one country must compete with those from all other countries. If debt payments are fixed, a weaker currency makes these payments effectively less expensive over time.

Reference Page www.economicsonline.com (Tejvan Pettinger, November 28, 2012) www.economicshelp.org (Lawrence Mishel • September 11, 1995) http://www.investopedia.com https://www.stlouisfed.org/education
www.useconomy.about.com