The Labour Market

	You are here: Home > Educators > Economics > Wages > The Labour Market - Mind Map

Level 2
- Business/Economics »
16-19
- Business Studies »
  - A2 »
  - AS »
  - BTEC »
- Economics »
  - A2 »
  - AS »
- BTEC Travel and Tourism »
- HE
  - Resources »

The Labour Market - Mind Map

Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.

Labour Market mind map - linked to larger version

View larger version of the mind map.

Demand for Labour
- By employers
- Derived demand
- Dependent on demand for product
- Productivity of Labour (MPP)
- Marginal Revenue Product (MRP)
Factor Earnings
- Transfer Earnings
- Economic Rent
Supply of Labour
- From Employees
- Geographical Mobility
  - Housing market
  - Information
  - Willingness to move
  - Help with costs of moving
  - Social/Cultural/Family ties
- Occupational Mobility
  - Information
  - Qualifications/Skills
  - Willingness to change jobs
  - Differential Remuneration Packages
- Discrimination
- Opportunity Cost
  - Income Effect
  - Substitution Effect
- Number of substitutes