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    (Original post by thunguyen168)
    According to the MRP curve, firms will hire worker as long as MRP=MLC. If MRP is high then MLC (wage) will be high too.

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    That's so simple, I just really confused myself! Thanks
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    (Original post by Shepherd_9)
    That's so simple, I just really confused myself! Thanks
    Don't worry. I have just known that today )

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    (Original post by Mrgp)

    Analyse, using examples, the factors which determine the elasticity of supply of labour to an occupation [15]




    Discuss the extent to which migration may be considered to have a positive impact on labour
    occupation markets. [20]

    i would be very grateful if someone could write a plan for these two questions
    what the hells a labour occupation market?
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    Anyone know about the concentration ratios of the different leisure markets? Can't find anything online :/

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    Im actually so unprepared for this exam, i dunno anything -.-
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    Which diagrams would you use when writing about policies which would increase labour market flexibility??
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    Can someone please tell me answer plans for 5, 6 and 8 markers? So, how much is analysis and how much is evaluation for comment on/discuss? Also, do we still actually get credit for defining things?

    Thanks for any answers

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    Can someone please give me examples of Leisure Industries please? And labour markets as well?
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    (Original post by GB1996)
    Can someone please tell me answer plans for 5, 6 and 8 markers? So, how much is analysis and how much is evaluation for comment on/discuss? Also, do we still actually get credit for defining things?

    Thanks for any answers

    the 5 marker will usually be a comment question. For this you get 2 marks for analysis, 2 marks for an appropriate comment and the 5th mark for a judgement.

    6 marker - never seen one of those.

    8 marker - this will be a "Discuss the extent to which" type however not detailed enough for an essay. 3 marks for analysis, 3 marks for evaluation and 2 marks for judgement. i should add though that a complete lack of a judgement would only get you 5/8, not 6/8.
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    (Original post by amirarshad)
    Which diagrams would you use when writing about policies which would increase labour market flexibility??
    a simply LM diagram will suffice (so the interaction of ADL and ASL, showing an outward shift in ASL)
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    (Original post by TheGuy1)
    Can someone please give me examples of Leisure Industries please? And labour markets as well?
    Holidays and Travel - so you've got air travel, package holidays, camping holidays (OCR practically bum off this one)

    Cinema Industry - so Cineworld, Odeon, Vue etc.

    Spectator Sports - mainly the football market to be honest.

    TV Broadcasting - this one is ****ing fantastic.
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    (Original post by Nash96)
    Anyone know about the concentration ratios of the different leisure markets? Can't find anything online :/

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    i think Cineworld, Odeon and Vue hold a 62.8% concentration ratio in the cinema market BBC, ITV and Channel 4 have a 45% ratio in TV broadcasting too. they're the only ones i know im afraid :/
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    (Original post by Fas)
    Holidays and Travel - so you've got air travel, package holidays, camping holidays (OCR practically bum off this one)

    Cinema Industry - so Cineworld, Odeon, Vue etc.

    Spectator Sports - mainly the football market to be honest.

    TV Broadcasting - this one is ****ing fantastic.
    Thanks! You know examples of labour markets?
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    (Original post by Fas)
    i think Cineworld, Odeon and Vue hold a 62.8% concentration ratio in the cinema market BBC, ITV and Channel 4 have a 45% ratio in TV broadcasting too. they're the only ones i know im afraid :/
    Cheers! Its more than I knew :P

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    (Original post by TheGuy1)
    Thanks! You know examples of labour markets?
    examples of labour markets are purely just the demand and supply of labour to a particular occupation - so literally every job going is a 'labour market' in itself

    So the market for footballers, brain surgeons, waitresses etc are good ones to talk about because they're more at the extreme ends of the spectrum
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    (Original post by ASKid)
    Im actually so unprepared for this exam, i dunno anything -.-
    Ditto
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    I'm placing my bets on a 15 or 20 marker question about monopsony - labour market failure..:eek:
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    What is allocative efficiency? From unit 1 I know that it happens when consumer satisfaction is maximised but where is that point on a monopolistic diagram? And productive efficiency is it where MC intersects AC? Any response will be much appreciated, thank you!!

    EDIT: got the answer now, allocative efficiency happens when P=MC and productive efficiency is happen at the lowest point of AC.



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    (Original post by Fas)
    a simply LM diagram will suffice (so the interaction of ADL and ASL, showing an outward shift in ASL)

    I'm still slightly confused though, so if you were to speak about better training to increase flexibility, you'd show the outward shift in the S curve and then?
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    (Original post by amirarshad)
    I'm still slightly confused though, so if you were to speak about better training to increase flexibility, you'd show the outward shift in the S curve and then?
    well there's a multitude of methods that the Government can use to improve labour market flexibility - cutting marginal income tax rates, cutting JSA, reducing employment legislation and education and training. All these methods have their own way of improving flexibility (which im too tired to go through right now haha) but the common theme is that these methods will encourage workers to work more and thus increase their supply of labour to the area's where labour shortages are occurring (in theory), hence improving labour market flexibility (however with employment legislation, reducing employment legislation will increase firms demand for labour, it won't affect the supply)

    So basically the diagram im talking about is the interaction of the Aggregate Demand for Labour (ADL) and the Aggregate Supply of Labour (ASL), and you'd show the ASL line moving outwards to indicate the increase in the supply of labour which has helped to improve labour market flexibility (numerical/temporal/locational/functional/wage) as firms now have access to a larger pool of workers, and unemployment will in theory decrease, as labour shortages should no longer occur, and the labour market will now have a better response to changing market conditions.

    hopefully that helps, but if there's anything you don't understand just let me know and i'll try and explain it


    so in your analysis you're basically analysing how these measures by the government to improve labour market flexibility will improve the different components of labour market flexibility - so numerical/functional/temporal/wage/locational flexibility
 
 
 

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