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3 marksWage Differentials

CAPE Economics Unit 1 · 2021 · Paper 2 · Question 3(b)(ii)

Explain how industrial action can impact the pricing of labour (or wages).

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Other parts of this question

  1. 3(a)(i)Define the term 'marginal physical product'.[2 marks]
  2. 3(a)(ii)Define the term 'marginal revenue product'.[2 marks]
  3. 3(b)(i)Explain how minimum wages can impact the pricing of labour (or wages).[3 marks]
  4. 3(b)(iii)Explain how collective bargaining can impact the pricing of labour (or wages).[3 marks]
  5. 3(c)(i)Discuss how unemployed human resources could affect the economic costs of poverty.[4 marks]
  6. 3(c)(ii)Discuss how inefficiency of government spending could affect the economic costs of poverty.[4 marks]
  7. 3(c)(iii)Discuss how environmental degradation could affect the economic costs of poverty.[4 marks]

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