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A level Economics - 9708 > 40.Labour Market Forces and Government Intervention > Flashcards

40.Labour Market Forces and Government Intervention Flashcards

1
Q

What is the demand for labour

A
  • Amount of labour employer seek to hire at a given worktime for a given wage rate.
  • Demand for labour is a derived demand
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2
Q

What is Derived Demand

A

Labour is not demanded for it’s own sake but for what it contributes to the production of the goods and services.

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3
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A level Economics - 9708 (10 decks)

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