Imperfectly Competitive Labour Markets (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
Which type of labour market is most common in the real world?
Which type of labour market is most common in the real world?
Imperfect competition
Who introduced the term 'monopsony' and when?
Who introduced the term 'monopsony' and when?
Joan Robinson in 1933
Why does the NHS have monopsony power but not represent a pure monopsony?
Why does the NHS have monopsony power but not represent a pure monopsony?
Private hospitals also employ workers
Why does the MCL exceed the wage rate in a monopsony labour market?
Why does the MCL exceed the wage rate in a monopsony labour market?
Higher wage must be paid to all workers
If 5 workers earn £10/hr and hiring a 6th requires £11/hr for all, what is the MCL of the 6th worker?
If 5 workers earn £10/hr and hiring a 6th requires £11/hr for all, what is the MCL of the 6th worker?
£16
In a monopsony, where is the wage rate determined relative to the employment equilibrium point?
In a monopsony, where is the wage rate determined relative to the employment equilibrium point?
Below equilibrium point on supply curve
What is the most significant cause of geographical immobility in the UK in recent years?
What is the most significant cause of geographical immobility in the UK in recent years?
The state of the housing market
Which is an example of an artificial barrier to occupational mobility?
Which is an example of an artificial barrier to occupational mobility?
Professional body membership requirements
How can trade unions be regarded in economic analysis?
How can trade unions be regarded in economic analysis?
As monopoly suppliers of labour
What is collective bargaining?
What is collective bargaining?
Unions bargaining with employers for members