3.5 Labour market

Spec: what students need to learn

• Factors that influence the demand for labour
• Labour as a derived demand

Full notes coming soon.

Spec: what students need to learn

• Factors that influence the supply of labour to an occupation
• Market failure: geographical and occupational mobility and immobility

Full notes coming soon.

Spec: what students need to learn

• Diagrammatic analysis of labour market equilibrium
• Current labour market issues
• Government intervention: maximum and minimum wages, public sector pay setting, policies on labour immobility
• Significance of the elasticity of demand for and supply of labour

Full notes coming soon.

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