Several furniture manufacturers employ assemblers in one town. The table shows the total weekly hours that firms want to hire and workers want to offer at two wage rates.
| Hourly wage | Hours demanded per week | Hours supplied per week |
|---|---|---|
| £11 | 1,200 | 800 |
| £13 | 1,000 | 1,000 |
Explain, using the data, how an hourly wage of £11 is likely to change and how this change will affect the quantity of labour supplied.
80 exam-style questions on OCR GCSE Economics 2.7 The labour market, covering 2.7.1 Role and operation of the labour market, 2.7.2 Determination of wages, 2.7.3 Explain gross and net pay, and 2.7.4 Calculate gross and net pay. Each one has a worked solution and a mark scheme showing where the marks go.