Wage Determination in Competitive & Non-competitive Markets 3.5.3 Flashcards
1
Q
What 7 factors shift the supply and demand for labour
MINCED P
A
Migration
Income tax and benefits
Non-Pecuniary benefits
Capital costs
Education
Derived Demand
Productivity
2
Q
Define Non-pecuniary benefits
A
Benefits of a job other than the wage received
3
Q
What are the 6 current labour market issues
A
Skill shortages
Youth unemployment
Retirement ages
School leaving age
Zero-hour contracts
Temp Work
4
Q
What Policies are used to tackle labour market immobility
A
Education
Subsidising Employers
Relocation Subsidies
Reducing Asymmetric Information
Reducing discrimination
5
Q
A
