Mr HounselEconomics

  • Home
  • AS Level
    • Induction day
    • Y11 Induction
    • Theme 1
      • 1.1 Nature of economics
        • 1.1.1 Economics as a social science
        • 1.1.2 Positive and normative economic statements
        • 1.1.3 The economic problem
        • 1.1.4 Production possibility frontiers
        • 1.1.5 Specialisation and the division of labour
        • 1.1.6 Free market economies, mixed economy and command economy
      • 1.2 How markets work
        • 1.2.1 Rational decision making
        • 1.2.2 Demand
        • 1.2.3 Price, income and cross elasticities of demand
        • 1.2.4 Supply
        • 1.2.5 Elasticity of supply
        • 1.2.6 Price determination
        • 1.2.7 Price mechanism
        • 1.2.8 Consumer and producer surplus
        • 1.2.9 Indirect taxes and subsidies
        • 1.2.10 Alternative views of consumer behaviour
      • 1.3 Market failure
        • 1.3.1 Types of market failure
        • 1.3.2 Externalities
        • 1.3.3 Public goods
        • 1.3.4 Information gaps
      • 1.4 Government intervention
        • 1.4.1 Government intervention in markets
        • 1.4.2 Government failure
    • Theme 2
      • 2.1 Measures of economic performance
        • 2.1.1 Economic growth
        • 2.1.2 Inflation
        • 2.1.3 Employment and unemployment
        • 2.1.4 Balance of payments
      • 2.2 Aggregate demand (AD)
        • 2.2.1 The characteristics of AD
        • 2.2.2 Consumption (C)
        • 2.2.3 Investment (I)
        • 2.2.4 Government expenditure (G)
        • 2.2.5 Net trade (X-M)
      • 2.3 Aggregate supply (AS)
        • 2.3.1 The characteristics of AS
      • 2.4 National income
        • 2.4.1 National income
        • 2.4.3 Equilibrium levels of real national output
        • 2.4.4 The multiplier
      • 2.5 Economic growth
        • 2.5.1 Causes of growth
        • 2.5.2 Output gaps
        • 2.5.3 Trade (business) cycle
      • 2.6 Macroeconomic objectives and policies
        • 2.6.1 Possible macroeconomic objectives
        • 2.6.2 Demand-side policies
        • 2.6.3. Supply-side policies
        • 2.6.4 Conflicts and tradeoffs between objectives and policies
        • Financial Crisis v Great depression
      • Class 2016
  • A Level
    • Theme 3
      • 3.1. Business Growth >
        • 3.1.1 Sizes and types of firms
        • 3.1.2 Business growth
        • 3.1.3 Demergers
      • 3.2 Business Objectives >
        • 3.2.1 Business objectives
      • 3.3 Revenue, Costs & Profits >
        • 3.3.1 Revenue
        • 3.3.2 Costs
        • 3.3.3 Economies and diseconomies of scale
        • 3.3.4 Normal profits, supernormal profits & losses
      • 3.4 Market Structures >
        • 3.4.1 Efficiency
        • 3.4.2 Perfect competition
        • 3.4.3 Monopolistic competition
        • 3.4.4 Oligopoly
        • 3.4.5 Monopoly
        • 3.4.6 Monopsony
        • 3.4.7 Contestability
      • 3.5 Labour market >
        • 3.5.1 Demand for labour
        • 3.5.2 Supply of labour
        • 3.5.3 Wage determination in competitive and non-competitive markets
      • 3.6 Government intervention >
        • 3.6.1 Government intervention
        • 3.6.2 The impact of government intervention
    • Theme 4
      • 4.1 International economics >
        • 4.1.1 Globalisation
        • 4.1.2 Specialisation & Trade
        • 4.1.3 Pattern of trade
        • 4.1.4 Terms of trade
        • 4.1.5 Trading blocs & WTO
        • 4.1.6 Restrictions on free trade
        • 4.1.7 Balance of Payments
        • 4.1.8 Exchange Rates
        • 4.1.9 International Competiveness
      • 4.2 Poverty and inequality >
        • 4.2.1 Absolute & Relative Poverty
        • 4.2.2 Inequality
      • 4.3 Emerging and developing economies >
        • 4.3.1 Measures of development
        • 4.3.2 Factors influence growth & dev
        • 4.3.3 Stratergies for growth & dev
      • 4.4 The financial sector >
        • 4.4.1 Role financial markets
        • 4.4.2 MF in Financial markets
        • 4.4.3 Role of Central Banks
      • 4.5 Role of the state in the macroeconomy >
        • 4.5.1 Public expendicture
        • 4.5.2 Taxation
        • 4.5.3 Public sector finances
        • 4.5.4 Macro policies
  • Class List
    • Year 12
    • Year 13
ILO:

a) Factors that influence the supply of labour to a particular occupation
b) Market failure in labour markets: the geographical and occupational mobility and immobility of labour

Supply of Labour

Draw a diagram that represents what you'd expect the supply of labour curve to look like.
Explain the reason behind the relationship between quantity of labour and wages earned.

Factors shift supply of labour:

> Changes in
migration

> Income tax - countries

> Benefits - universal credit




​ > Social trends - BBC youth career aspirations

> Required skills and qualifications - skill shortage

> Presence of trade unions - Days lost due to labour disputes
Examine two factors that'll influence the supply of labour. (8 marks)
How To Retire At 40 By Super Saving
Post-Brexit: Businesses hit by labour shortages call for Brexit rules to be relaxed

Revision videos

Labour Supply I A Level and IB Economics
Trade Unions in the UK - start video 2:25

Geographical immobility & MF

Explain a cause of geographical immobility. (5 marks)
​
Blackpool: a forgotten town
Assess how effective HS2 will be in reducing geographical immobility. (10 marks)
HS2: Joining up Britain

Occupational immobility & MF

Explain why occupational immobility leads to MF.
​(5 marks)
A history of British steel-making in the North East | ITV News
Assess how effective the UK apprenticeship scheme will be in reducing occupational immobility. (10 marks)
Apprenticeship Levy is 'just another tax' on UK businesses

Immobility revision

Occupational Immobility
Geographical Immobility
Tackling Labour Immobility - Analysis and Evaluation Paragraphs

WES

Examine two factors that influence the WES of a brain surgeon. (8 marks)
How to become Neurosurgeon - UK edition
​
Revision video for WES:
​
Elasticity of the Labour Supply Curve
​
Related articles:
​How long would it take you to earn a top footballer’s salary?
Skill shortages 2020

Mr Hounsel - Economics

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