The Labour Market
Bayani Gaba-gaba
Behind every product on a shelf sits a market you rarely think about directly: the market for the people who made it. Businesses do not just buy raw materials and machinery, they buy labour, and like any other market, the labour market has its own demand, its own supply, and its own price, the wage rate.
In this lesson you will apply the demand and supply model you already know for goods to the market for workers, learn what makes the demand for labour rise or fall, what makes people willing to supply their labour, and how trade unions and government policy can push wages away from the level demand and supply alone would set. You will practise reading and describing labour market diagrams precisely, since this is exactly the skill Edexcel tests here.
Manufura
- Factors affecting the demand for labour: demand for the final product (derived demand), availability of substitutes including machines, productivity of workforce
- Factors affecting the supply of labour: population size, migration, age distribution of population, retirement age, school-leaving age, female participation, skills and qualifications, ability to move geographic locations or move to different types of employment
- Importance of the quantity and quality of labour to business
- Impact of education and training on human capital and quality of labour
- The use of labour market diagrams showing supply of labour, demand for labour, market equilibrium wage and quantity of labour (employment), and effect of shifts in demand for labour and supply of labour
- Trade union involvement in the labour market: impact of trade union activity to improve working conditions and increase wages
Taswirar tunani
An zana wannan batu don ka ga yadda ra'ayoyi ke hadewa.
Bude taswirar tunani a cikin manhaja
Katunan tunawa
Gwaji mai sauri kan abin da ake jarraba a wannan batu.
Yi atisayen wadannan katuna a cikin manhaja
Takardar Darasi
Cikakken Bayanin Darasi Yana Kan Manhajar Green Bridge
Sami manhajar Green Bridge CBT a wayarka ko kwamfutarka domin cikakken laburaren IGCSE: takardun jarrabawar baya, tsarin kimantawa, taswirar tunani, katunan karatu da darussan sauti.
Nazarin Darasi
Barka da kammala darasi akan The Labour Market. Yanzu da kuka bincika mahimman ra'ayoyi da ra'ayoyi, lokaci yayi da zaku gwada ilimin ku. Wannan sashe yana ba da ayyuka iri-iri Tambayoyin da aka tsara don ƙarfafa fahimtar ku da kuma taimaka muku auna fahimtar ku game da kayan.
Za ka gamu da haɗe-haɗen nau'ikan tambayoyi, ciki har da tambayoyin zaɓi da yawa, tambayoyin gajeren amsa, da tambayoyin rubutu. Kowace tambaya an ƙirƙira ta da kyau don auna fannoni daban-daban na iliminka da ƙwarewar tunani mai zurfi.
Yi wannan ɓangaren na kimantawa a matsayin wata dama don ƙarfafa fahimtarka kan batun kuma don gano duk wani yanki da kake buƙatar ƙarin karatu. Kada ka yanke ƙauna da duk wani ƙalubale da ka fuskanta; maimakon haka, ka kallesu a matsayin damar haɓaka da ingantawa.
- The demand for labour is described as a 'derived demand' because: A) It depends only on the wage rate B) It exists because of demand for the final product labour produces C) It is set entirely by government D) It never changes over time Answer: B
- Which of the following would shift the supply of labour curve to the right? A) A fall in the school-leaving age B) An increase in net migration into the country C) A rise in the retirement age being lowered D) A fall in female participation in the workforce Answer: B
- On a labour market diagram, the vertical axis shows: A) Quantity of labour B) The wage rate C) Total output D) The price of the final product Answer: B
- A trade union negotiates a wage above the market equilibrium. According to the basic labour market model, this is most likely to cause: A) A shortage of labour B) A surplus of labour (unemployment) C) No change in employment D) A fall in the wage rate Answer: B
- Which of the following is most likely to increase the demand for labour in a factory? A) A fall in consumer demand for the factory's product B) A rise in the cost of the machinery that substitutes for workers C) A fall in worker productivity D) An increase in the school-leaving age Answer: B
Yi aikin wadannan tambayoyi a cikin manhaja
Yi aikin wadannan tambayoyi a cikin manhaja
Littattafan da ake ba da shawarar karantawa
Ƙarin koyo daga tushe na buɗe
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Sashen littafi
Demand and Supply at Work in Labor Markets
Predict shifts in the demand and supply curves of the labor market
"Principles of Economics 2e: Demand and Supply at Work in Labor Markets" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/principles-economics-2e/pages/4-1-demand-and-supply-at-work-in-labor-markets. Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction
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Sashen littafi
Market Power on the Supply Side of Labor Markets: Unions
Explain the concept of labor unions, including membership levels and wages
"Principles of Economics 2e: Market Power on the Supply Side of Labor Markets: Unions" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/principles-economics-2e/pages/14-3-market-power-on-the-supply-side-of-labor-markets-unions. Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction
Wasu ƙungiyoyi ne suka wallafa su ƙarƙashin lasisin buɗe, kuma muna ambaton su yadda suka nema. Hanyoyin suna buɗe shafukansu.
Yi Aikin Tambayoyin Gwaji
Kana son yin aikin tambayoyin gwaji kan The Labour Market? Sauke manhajar Green Bridge CBT don samun tambayoyin gwaji da cikakkun jarrabawa akan wannan batu.
Sauke Manhajar Daga Google Playstore
Duk abin da kake buƙata don yin fice a JAMB, WAEC & NECO.
