Fichas
Week 5 notes
Fichas del conjunto (14)
- 1What is the labour market?Supply and demand of labour
- 2What are influencing factors for supply and demand?Age of population
Education levels - 3What is division of labour?Dividing the production process into different stages.
- 4Advantages of division of labour for the worker include:Workers can do jobs best suited to them
Easier for workers to learn fewer tasks
Constant repetition means workers can become proficient in it
Allows workers to specialise and increase their salaries - 5Advantages of division of labour for the firm include:Increased efficiency with more output
Training costs are lowered
Saves production time
Economies of scale - if production is high, more can be produced at a cheaper rate by bulk buying materials - 6Disadvantages of division of labour for the worker include:Repetition can become boring.
Cheaper pay as you’re doing less tasks.
You’re more expendable if you only do a few things. - 7Disadvantages of division of labour for the firm include:Bored workers make more mistakes, reducing efficiency and profit.
If bored workers quit, it will cost to replace and train them.
One worker can disrupt a production line if only one mistake is made as they are dependent on each other. - 8Which way does the demand for labour curve slope?Downward.
- 9When does the curve shift to the right?If there is an increase in demand.
- 10When does the curve shift to the left?If there is an decrease in demand.
- 11What happens to demand for labour when wages increase?Quantity of workers demanded decreases.
- 12What happens to demand for labour when wages decrease?Quantity of workers demanded increases.
- 13Factors affecting demand for labour:Demand for the products/services
Availability of substitutes (machinery)
Productivity of workers - 14Factors affecting supply for labour:Retirement and school leaving age
Female participation in workforce
Job safety
Job location
Training and qualifications
Job satisfaction
Unemployment benefits
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- GCSE Economics Fichas sobre Week 5 notes, creado por Milly T el 15/12/2021.
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- Milly T
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