Edexcel A Level · 9EC0 · Theme 3: Business behaviour and the labour market
3.5.3 Wage determination
Everything you need for questions on wage determination, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- Competitive labour markets
- Non-competitive labour markets
- The national minimum wage (NMW)
- Worked example
- Other effects of a NMW
- Classic question: should the national minimum wage be raised?
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- Minimum wage: jobs lost or gained?
- Why are they paid more (or less)?
- Who wins, who loses?
- Wage trainer
- Floors and bargaining
- Build the chain
- Exam practice
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