3.5.2

Question 1

How is the supply of labour calculated

Answer 1

By the number of workers willing and able to work at the current wage rate, multiplied by the number of hours they can work

Question 2

What is the supply of labour affected by

Answer 2

The wage rate
Demographics of the population
Migration
Advantages of work
Leisure time
Trade unions
Taxes and benefits
Training

Question 3

Geographical immobility

Answer 3

The geographical immobility of the factors of production refers to the obstacles which prevent the factors of production moving between areas

Question 4

Occupational immobility

Answer 4

Occupational immobility if the factors of production refers to the obstacles which prevent the factors of production changing their use