proportionate change in the supply of labour following a change in the wage rate
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Card 7
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total wage costs divided by the number of workers employed
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Card 8
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the addition to a firm's total cost of production resulting from employing one more worker
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Card 9
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there is only one buyer in a market
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Card 10
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the market power exercised in a market by the buyer of a good or the services of a factor production such as labour, even though the firm is not a pure monopsonist
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Card 11
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when workers are unwilling or unable to move from one job to another because they lack or are unable to attain the skills needed
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Card 12
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when workers are unwilling or unable to move from one area to another in search of work
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Card 13
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a group of workers who join together to maintain and improve their conditions of employment, including their pay
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Card 14
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a process by which wage rates and other conditions of work are negotiated and agreed upon by a union or unions with and employer or employers
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Card 15
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a wage rate that must by law be payed to employees
