Micro Labour Markets Flashcards
1
Q
Advantages of minimum wage
A
2
Q
Disadvantages of minimum wage
A
3
Q
What are trade unions? What is their effect? And what limits their effectiveness?
A
4
Q
What is MPP and MRP?
A
5
Q
What is elasticity demand for labour and factors that affect it?
A
6
Q
What is supply of labour and facotrs influencing?
A
7
Q
What is the elasticity of supply and factors affecting?
A
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8
Q
Explain the two immobilities of labour
A
9
Q
What is a perfectly competitive labour market?
A
10
Q
Why is an individuals supply curve backwards bending?
A
