ECON3

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  • Created by: Zoe
  • Created 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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Card 2

Front

The demand for labour depends on a worker's marginal revenue product

Back

Marginal Productivity Theory

Card 3

Front

A sole buyer within a market and sets wages

Back

Preview of the front of card 3

Card 4

Front

An organisation of workers who join together to further their own interests

Back

Preview of the front of card 4

Card 5

Front

Total number of hours that labour is willing and able to supply at a given wage rate

Back

Preview of the front of card 5
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