Economics A-Level
Collective bargaining
What Collective bargaining means in Economics A-Level, as defined for AQA.
Definition of Collective bargaining
Check what you remember
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Reference: AQA
Used by trade unions to establish a wage floor above the competitive equilibrium, potentially reducing employment.
Topics that use Collective bargaining
- The determination of relative wage rates and levels of employment in imperfectly competitive labour markets (AQA A-Level)
Related terms
- Average Cost of Labour (ACL)
- Imperfect information
- Marginal Cost of Labour (MCL)
- Monopsony power
- Profit maximisation
- Trade unions
- Wage determination
Using Collective bargaining in the exam
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