Labour Demand and Supply (HSC SSCE Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What type of demand is labour demand?
What type of demand is labour demand?
Derived demand
What happens to labour demand when wages rise?
What happens to labour demand when wages rise?
Firms employ fewer workers
What is the relationship between economic growth and unemployment?
What is the relationship between economic growth and unemployment?
Inverse
Why do firms retain staff during downturns despite reduced demand?
Why do firms retain staff during downturns despite reduced demand?
Training new staff is costly
What does the 'I' represent in the CIGX components of aggregate demand?
What does the 'I' represent in the CIGX components of aggregate demand?
Investment
How much did Australian mining employment increase from 2003 to 2012?
How much did Australian mining employment increase from 2003 to 2012?
More than threefold
How is labour productivity measured?
How is labour productivity measured?
Output per unit of labour per unit time
What happens to labour demand when productivity rises but aggregate demand is unchanged?
What happens to labour demand when productivity rises but aggregate demand is unchanged?
Labour demand may decline
When is labour demand more elastic?
When is labour demand more elastic?
When substitution with capital is easy
Which is NOT a labour on-cost?
Which is NOT a labour on-cost?
Raw materials