ECON3 0.0 / 5 ? EconomicsThe labour marketA2/A-levelAQA Created by: ZoeCreated on: 21-05-15 17:52 Give an example of derived demand Demand for labour 1 of 6 The demand for labour depends on a worker's marginal revenue product Marginal Productivity Theory 2 of 6 A sole buyer within a market and sets wages Monopsony 3 of 6 An organisation of workers who join together to further their own interests Trade Union 4 of 6 Total number of hours that labour is willing and able to supply at a given wage rate Supply of labour 5 of 6 % of working age population that is economically active Participation rate 6 of 6
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