Economics GCSE
Labour Market
What Labour Market means in Economics GCSE, as defined for Pearson Edexcel.
Definition of Labour Market
A factor market where the supply of labour (from workers) and the demand for labour (from firms) interact to determine the wage rate and employment level.
Topics that use Labour Market
- The labour market (Pearson Edexcel GCSE)
Related terms
Using Labour Market in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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