Wage differentials
What Wage differentials means in Economics GCSE, as defined for AQA.
Definitions of Wage differentials
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Reference: AQA
The differences in wages between different groups of workers, occurring both within the same occupation and between different occupations.
Differences in wage rates in the labour market caused by differences in skills, education and qualifications.
Topics that use Wage differentials
- Distribution of income (AQA GCSE)
- The labour market (AQA GCSE)
Related terms
- Labour markets
- Aggregate demand
- Asset accumulation
- Deductions
- Derived demand
- Economic inequality
- Equity versus efficiency
- Government intervention
Using Wage differentials in the exam
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