<P> On the other hand, for the aggregate labour market, a labour market without "other sectors" for workers, the original story of the backward - bending labour - supply curve applies except that some workers suffer from involuntary unemployment . </P> <Ul> <Li> Workers choose their hours . </Li> <Li> There are no contractual obligations to work a certain number of hours . </Li> <Li> Workers are utility - maximising agents . </Li> <Li> Work provides a disutility, which must be compensated for by paying wages . </Li> <Li> Unpaid leisure time is a "normal" good . </Li> <Li> The labour market is competitive, and both firms and workers are price - takers . </Li> </Ul> <Li> Workers choose their hours . </Li> <Li> There are no contractual obligations to work a certain number of hours . </Li>

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