Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. This mind map introduces the Labour Market.

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.

View larger version of the mind map.

• Demand for Labour (Employers)
  
  • Cost of labour
  • Diminishing Returns
  • Pension Costs
  • National Insurance Costs
  • Productivity
  • Marginal Physical Product
  • Marginal Revenue Product
  • Demand for the final product/service
  • Number and closeness of substitutes
  • Time period
• Market Failure
  
  • Geographical mobility
  • Occupational mobility
  • Trade Union power
    
    • Collective bargaining
    • Local/National bargaining
    • Membership
    • Type of Industry
  • Discrimination
  • Imperfect information
  • 'Sticky' wage rates
• Flexibility
  
  • Monopsony
  • Employment laws
  • Benefits system
  • Housing availability
  • Minimum Wage Legislation
• Supply of Labour (Employees)
  
  • Wage rates
  • Population Size
  • Population Structure
    
    • Age distribution
    • Gender distribution
    • Population of working age
  • Training and Education
    
    • Type of qualification
    • School leaving age
    • Number in higher education
  • Skills
  • Expertise
  • Time period
  • Income and substitution effects
  • Opportunity cost
  • Migration patterns