The factor of production labour receives a payment called wages - Leaving Cert Economics - Question 3 - 2013

1. Different Skills: Job roles that require specialized skills or training, such as doctors, command higher wages due to the extensive education and training involved.

2. Negotiation Strength of the Workers' Trade Union: Professions with strong trade unions may negotiate higher wages compared to those without strong representation, leading to wage variance.

Occupational mobility of labour refers to the ability and ease with which a worker can move from one job to another.

One factor that influences this is the availability of education and training programs, which can provide workers with the necessary skills to transition into new employment opportunities.

The public sector refers to the part of the economy that is controlled by state bodies and government departments. An example of an occupation in this sector is 'Secondary School Teaching'.

One reason is to reduce costs. The government aims to lessen the financial burden of running the public sector and improve efficiency by reducing the number of employees.

1. Government Finances: Fewer employees could lead to a reduction in the public sector wage bill, potentially allowing for budget reallocation or reductions in taxes.

2. Provision of Services: With fewer workers, the efficiency and effectiveness of public services may decline, leading to poorer service delivery in areas such as healthcare and education.

1. Increased Wage Rates: IT companies may need to offer higher wages to attract skilled workers, which could increase operational costs.

2. Decreased Productivity: Shortages in skilled workers may lead to delays in project completion and overall productivity dips, affecting economic growth.

1. IT Companies: They could increase wages to attract more talent into the industry.

2. Colleges / Universities: They might introduce bonus points for students pursuing degrees in computer science to incentivize enrollment in these educational programs.