AQA A Level · 7136 · Paper 1: Markets and market failure
4.1.6.3 Wages in Competitive Labour Markets
A-level only
Everything you need for questions on wage determination in perfectly competitive labour markets, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- The model
- Market and firm
- Market forces and relative wages
- What changes the wage?
- Classic question: do market forces explain why some workers earn far more than others?
- Worked example: how many workers?
- Explaining real wage gaps
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- The market sets the wage; the firm takes it
- Why do some jobs pay more?
- Demand side, supply side, or imperfection?
- Wages and employment
- Pay and markets
- Build the chain
- Exam practice
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