The labour market

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  • Created by: pepper720
  • Created on: 14-05-22 18:29
Sole buyer of labour
Monopsony
1 of 10
Is a flow of factor incomes such as wages, rent and interest
Income
2 of 10
Is a stock of financial and real assets such as property, savings and land
Wealth
3 of 10
When workers get paid different amounts for doing the same job
Wage discrimination
4 of 10
Is an organisation of workers whos aim is to improve the pay and other conditions of work of its members
Trade union
5 of 10
Those who are economically active
Labour supply
6 of 10
The monetary value of the physical addition to a firms total output from employing one extra worker
MRP
7 of 10
Where firms demand labour
MRP MC
8 of 10
Discounts, ease of job, passion, holiday, ability
Non-monetary
9 of 10
Wages, bonuses
Monetary
10 of 10

Other cards in this set

Card 2

Front

Is a flow of factor incomes such as wages, rent and interest

Back

Income

Card 3

Front

Is a stock of financial and real assets such as property, savings and land

Back

Preview of the front of card 3

Card 4

Front

When workers get paid different amounts for doing the same job

Back

Preview of the front of card 4

Card 5

Front

Is an organisation of workers whos aim is to improve the pay and other conditions of work of its members

Back

Preview of the front of card 5
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