Teaching PowerPoints
3.5.3 Minimum Wage in the Labour Market (Edexcel A-Level Economics Teaching PowerPoint)
- Level:
- A-Level
- Board:
- Edexcel
Last updated 23 Sept 2023
This teaching powerpoint covers the economics of a Minimum Wage in the Labour Market
A minimum wage is a legally mandated minimum hourly wage that employers must pay their workers. It's a price floor for labour, meaning it's the lowest wage rate that's legally permitted. A minimum wage is intended to protect workers from being exploited by employers, and to ensure that all workers receive a fair wage. However, it can also have unintended consequences. For example, some economists argue that a minimum wage can lead to unemployment, as employers may choose to lay off workers if they are forced to pay them more.
Download this PowerPoint
You might also like
The Poverty Trap- Panorama
12th October 2014
Living Standards and Human Development Index
Topic Videos
Economics Exam Context for 2018
Study Notes
JRF launches new Minimum Income Standard
3rd July 2018
Synoptic Economics: Impact of Higher Minimum Wage
Topic Videos
Labour Market: Sainsbury's raises pay to £10 an hour
8th January 2022
Netherlands raises their minimum wage by 10%
21st September 2022
Related products
-
Revision FlashcardsTheme 3 Revision Flashcards for Edexcel A-Level Economics
02-4130-30066-03
£9.95 inc VAT -
-
- View full selection ›