What is the concept of derived demand?

Name 4 things that would result in a leftward shift in the demand curve for labour

Give 4 examples of things that would cause a rightward shift of the supply curve for labour

What are the 4 factors that determine the wage elasticity of demand?

What are the 4 factors that determine the wage elasticity of supply?

What is marginal revenue product?

What are the 6 assumptions of MRP theory?

What 4. things could cause a rightward shift in the MRP curve?

What are the characteristics of a diagram showing a perfectly competitive labour market?

What are the 3 main types of imperfectly competitive labour markets?

How is a trade union defined?

What effect is a trade union likely to have on wages and quantity employed of labour?

What are 2 causes of the occupational immobility of labour?

What market failure is the government trying to correct by implementing a minimum wage?

The extent that a minimum wage leads to unemployment depends critically on what 3 factors?

Name 4 advantages of a minimum wage

Name 4 disadvantages of a minimum wage

Name 2 advantages of a maximum wage

Name 4 disadvantages of a maximum wage

What is the true shape of the supply of labour curve and why?

What is the theory of income in terms of the labour supply market?

What are 3 non-monetary factors that effect the supply of labour?