Supply of labour

The National Minimum Wage for people over 23 rose by 9.7% to £10.42 in April 2023. The industry most affected is hospitality.

(Source: adapted from https://www.gov.uk/government/publications/the-national-minimum-wage-in-2023/the-national-minimum-wage-in-2023)

Draw a labour market diagram to show the likely impact of the increase in the National Minimum Wage for hospitality employees.

There has been a significant decrease in the supply of agricultural workers in the UK. Which one of the following is the most likely cause of this decrease?

In 2023, the UK prime minister Rishi Sunak said that he wanted to see all students in England study some form of mathematics until they reach the age of 18 to ‘ensure that they leave school better equipped for the jobs of the future’. This would require additional spending on education.

Just half of all 16 to 19 year-olds study mathematics. Yet in a world where data is everywhere and statistics are vital in every job, the workforce will require more analytical skills than ever before.

(Source: adapted from https://educationhub.blog.gov.uk/2023/01/04/ studying-maths-to-18-what-you-need-to-know/)

Evaluate the likely microeconomic effects of increased spending on education.

Write your answer here:

With reference to Extract A, explain the likely reasons for the change in price of electronic devices. Include a supply and demand diagram in your answer.

Examine two factors which might influence the supply of labour in the electronics industry.

Assess whether firms in the electronics industry benefit from economies of scale.

Discuss the likely concerns of the competition authorities regarding the proposed merger of the two companies referred to in Extract C.

With reference to Extract D, discuss possible methods of government intervention to reduce electronic waste.

Some occupations in the UK are facing large labour shortages. Hard-to-fill vacancies include qualified chefs, software engineers, construction workers and qualified nurses.

(Source: adapted from https://www.ft.com/content/ 36baacce-ddd0-11e8-9f04-38d397e6661c)

Evaluate the factors that might influence the supply of labour in an occupation of your choice.

Write your answer here:

Statement 1: Since Poland joined the European Union (EU) in 2004, over one million of its workforce have migrated to other countries in the EU.

Statement 2: Many engineers have left Poland for higher paid jobs in other countries in the EU.

(Source: https://www.forbes.com/sites/freylindsay/2019/08/09/polands-emigration-rate-is-falling-but-people-are-still-worried-about-the-brain-drain-bogeyman/#9550525792e6)

Which one of the following best describes the two statements above?

Statement 1 Statement 2

Explain the likely impact of migration on the wage level of engineers in Poland.

In July 2017 it was announced that only a third of the BBC’s 96 top earning presenters were women and that its seven highest-paid presenters were all men.

According to the High Pay Centre, in 2018, UK chief executives can earn 120 times more than the average full-time worker earning £28 758.

With reference to an industry of your choice, evaluate why wage differences exist within the UK labour market.