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1.6 The labour market (A-level only)

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Question 3

All other things being equal, the demand for labour is more likely to be wage inelastic if:

A

it is very easy to substitute other factors of production for labour.

B

the demand for the final product is highly price elastic.

C

labour costs represent a very small proportion of total costs.

D

the firm is operating in the long run rather than the short run.

Markscheme

1.6 The labour market (A-level only) Questions

  1. A Level
  2. /Economics
  3. /1.6 The labour market (A-level only)

64 exam-style questions on AQA A Level Economics 1.6 The labour market (A-level only), covering 1.6.1 The demand for labour, marginal productivity theory, 1.6.2 Influences upon the supply of labour to different markets, 1.6.3 The determination of relative wage rates and levels of employment in perfectly competitive labour markets, 1.6.4 The determination of relative wage rates and levels of employment in imperfectly competitive labour markets, 1.6.5 The Influence of trade unions in determining wages and levels of employment, 1.6.6 The National Minimum Wage, and 1.6.7 Discrimination in the labour market. Each one has a worked solution and a mark scheme showing where the marks go.

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