T6 - influences of supply of labour

Question 1

Economically inactive meaning

Answer 1

part of population that is nto working

Question 2

what is the particiption rate

Answer 2

the % of population that ar of workign age and are lookign to work or are in work

Question 3

factors infleucnign supply of labour

Answer 3

wage rate
overtime options
substiute occupations
barriers to entry
mobility fo labour
non monetrary charetistics
net migration of labour

Question 4

what does the idnivuda supply of labour graph shwo

Answer 4

as wage rises hours worked will

Question 5

what is substituion effect

Answer 5

individuals wokring extra in repalce of leisure horus

Question 6

causes of shifts in supply of labour

Answer 6

non monetray factors
incomes
populations
expectation

Question 7

what does full employment mean

Answer 7

a conditonwhere all those who are willing and able to work are, it is where there is no cyclcial but there stiill can eb structrual