Economics GCSE
National Minimum Wage (NMW)
What National Minimum Wage (NMW) means in Economics GCSE, as defined for Pearson Edexcel.
Definition of National Minimum Wage (NMW)
A legally mandated price floor on the hourly wage rate, set by the government, below which employers cannot legally pay their workers.
Topics that use National Minimum Wage (NMW)
- The labour market (Pearson Edexcel GCSE)
Related terms
Using National Minimum Wage (NMW) in the exam
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