Wage determination

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  • Created by: Abbie
  • Created on: 18-04-13 20:30
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  • Wage determination
    • TU's
      • bargaining power of supplier and demander of labour
    • gov. policy and legislation
      • bargaining power of supplier and demander of labour
      • NMW
    • PES of labour
      • EG brain surgeons=inelastic (long training, qual.)=high WR
    • PED of labour
      • EG brain surgeons=inelastic D as no viable sub./ high MRP
    • Market mechanism
      • shifts in S and D for labour

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