Economics B A-Level
Labour market flexibility
What Labour market flexibility means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Labour market flexibility
Check what you remember
Read the wording for your board, then hide it and explain Labour market flexibility in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Reforming the labour market can involve reducing trade union power or altering unemployment benefits, with market-based reforms typically removing regulations such as a minimum wage to increase wage flexibility.
Topics that use Labour market flexibility
- Supply-side policies (Pearson Edexcel A-Level)
Related terms
- Economic incentives
- Human capital
- Infrastructure investment
- Macroeconomic equilibrium
- Productive capacity
- Interventionist methods
- Market-based methods
Using Labour market flexibility in the exam
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