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Labour markets and wages

Labour markets and wages

A labour market matches workers who supply labour with firms that demand labour. The wage rate is the price of labour, usually measured in pounds per hour, and the quantity of labour is workers or hours employed.

3.5.3 Wage determination in competitive and non-competitive markets Lesson

  1. A Level
  2. /Economics
  3. /3.5.3 Wage determination in competitive and non-competitive markets