CAPE Economics Unit 1 · 2011 · Paper 2 · Question 6(b)(i)
Define the concept of 'poverty'.
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Practise this questionOther parts of this question
- 6(a)(i)Distinguish between 'wage differentials' and 'compensating wage differentials'.[4 marks]
- 6(a)(ii)State four causes of wage differentials.[4 marks]
- 6(a)(iii)Using two causes identified previously, explain why wages differ.[4 marks]
- 6(b)(ii)Distinguish between 'absolute poverty' and 'relative poverty'.[4 marks]
- 6(c)Explain why a legal minimum wage alleviates poverty in a monopsonistic labour market but not in a perfectly competitive labour market.[7 marks]
More practice: the rest of this paper · more Income Inequality, Poverty and Poverty Alleviation questions · all CAPE Economics Unit 1 past papers