What students need to learn:
Content
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Students should be able to:
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Additional Guidance Notes
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Demand and supply of labour
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Understand the factors which influence the demand and supply of
labour.
Recognise that demand for labour is derived from the demand for the
final product it makes (derived demand).
Understand that factors influencing the supply of labour include
population migration, income tax and benefits,
government regulations (for example, national minimum wage) and trade
unions.
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Students are not expected to use marginal revenue productivity theory
in explaining the demand for labour.
AS students are not required to use the backward sloping supply curve
for labour and are not required to use monopsony
analysis.
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Post by Oscar Maldives.