Cambridge IGCSE Economics practice

Paper 2 structured question: Workers

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Paper

Marks

Topic

Workers

Exam-style question

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Paper 2Structured Questions1 marks

Wage determination in a competitive labor market.

Description

In a competitive labor market, wages are influenced by the interaction of demand and supply, bargaining power, and government regulations.

a
State the factors that determine wages in a labor market.
Your answer
Aim for approximately 1 distinct marking point.
[1]

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Paper 2Structured Questions6 marks

Description

Consider how demand and supply, bargaining power, and regulations like minimum wage affect wages.

a
Explain how demand and supply influence wage levels.
Your answer
Aim for approximately 4 distinct marking points.
[4]
b
Discuss the role of government regulations in wage determination.
Your answer
Aim for approximately 2 distinct marking points.
[2]