2.7 Flashcards
1
Q
factors affecting demand for labour
A
factors affecting demand for labour are; the state of the economy, wage rates, the productivity of labour, profitability of firms
2
Q
factors affecting supply of labour
A
factors affecting supply of labour are; wage rages, non-monetary factors (working conditionss) , education and training (increase number of skilful workers)
3
Q
gross pay
A
gross pay is the amount of money an employee makes before deductions
4
Q
net pay
A
net pay is the total amount of money the employee is left with after making deductions from the gross income
5
Q
how do we calculate net pay?
A
nat pay = gross pay-deductions
6
Q
how do we calculate gross pay?
A
gross pay= base pay+bonuses
