3.5 LABOUR MARKET

Question 1

1. define labour market

Question 2

2. define the 2 types of labour

Question 3

3. define folowing terms monsopsony, bilateral monopoly, trade union

Question 4

4. whare are the demand and supply side in LM

Question 5

5. what is demand& QD of labour

Question 6

6. explain derived demand of labour

Question 7

link demand of labour and unemployment during recession

Question 8

what is the MRP therory

Question 9

whare are the assumptions of MRP theory

Question 10

formula of mrpl

Question 11

what is the mfcl

Question 12

explain the conditions of fimrs and household in a perfect labour market

Question 13

draw market and firm diagram of perfect labour market

Question 14

what is the condition for profit max level of employment

Question 15

illustrate that on a diagram

Question 16

draw a diagram to show how the market mrpl is derived from firms

Question 17

EVAL: MRP theory

Question 18

what is an extenstion/contraction in demand for labour

Question 19

explain rise/fall in demand of laobur

Question 20

explain wage affect on demand of labour

Question 21

explain non wage factors affect on demand for labour

Question 22

define wage elasticity of demand for labour

Question 23

explain factors influencing elasticity of demand for labour

Question 24

define supply of laobur

Question 25

state & define 3 types of supply of labour (and response to wage inc.)

Question 26

define and expl substitution and income effect

Question 27

draw and explain backwards bending labour supply curve (state what happens in long run)

Question 28

for (im)perfect labour market draw and explain diagram

Question 29

expl (non) wage rate affect on labour (APP: brexit)

Question 30

expl extenstion and contraction in supply

Question 31

explain supply of labour shifts

Question 32

explain wage elasticity of supply & factors influencing it

Question 33

expl. market failure in LM (state type and expl. with solutions/ APP)

Question 34

expl perfect labour market (def. diag.

Question 35

expl: imperfect LM

Question 36

expl: imperfect LM - monopsony (and wage determination DIAG, compar with PERFECT LM)

Question 37

Expl. discrimination in the labour market (conseqs. and policies & diagram)

Question 38

APP: issus in labour market

Question 39

expl. national minimum wage (UK APP:)

Question 40

expl +ve/-ve NMW

Question 41

EVAL: NMW

Question 42

Expl. trade union (define, why join, industrial action)

Question 43

expl. wage determination ihn trade union (diag. expl. features, compare with perfect labour market)

Question 44

expl. bilateral monopoly

Question 45

expl. wage determination in bilateral monopoly

Question 46

expl. causes of geographical immobility

Question 47

expl. causes of occupational immobility

Question 48

exp. policies to overcome occupational immobilities