stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Labour Demand and Supply Mrs Heath Flashcards | StudBud
Explore
/
Labour Demand and Supply Mrs Heath
Labour Demand and Supply Mrs Heath
14 terms
·
StudBud Administration
·
21 plays
A labour market quiz for prelim eco
Flashcards
14 cards
F
Practice quiz
P
Host live
L
Questions
14
Answers
1
The relative cost of labour to capital in the production process will influence the
demand for labour
the number of people available to work on a full time basis
supply of labour
the number of people actively looking for work
2
What happens to the price of labour if the supply of labour decreases?
Price of labour increases
No change
Price of labour fluctuates
Price of labour decreases
3
The participation rate represents the percentage of the working age population who are:
married and raising a family
working in the services sector
in employment or actively looking for work
utilising flexible working arrangments
4
When wages decrease, employers typically:
increase wages
fire people
outsource labour
hire more people
5
In a competitive labour market the equilibrium wage and number employed is determined by
the number of people actively seeking work
the interaction of demand and supply for labour
Government policy regarding the minimum wage
the number of casual vacancies
6
The labour market is a:
product market
financial market
factor market
commodity market
7
The term "human capital" refers to:
appetite for increased wages
knowledge, skills, experience, health education and training
the composition of employment in an economy
flexibility in working conditions
8
Australian labour force data is collected and compiled by
the Department of Employment
the Department of Industrial Relations
the Australian Bureau of Statistics
firms and businesses
9
The demand for labour is derived from the demand for
human capital
better working conditions
the final goods/services which the labour is used to produce
the skills, experience and education of workers
10
Demand for labour is a:
relative demand
determined demand
produced demand
derived demand
11
The Australian Labourforce excludes
people who are unable to work for health reasons
people employed on a casual basis
people employed on a part time basis
people who are unemployed but are actively looking for work
12
The ability of workers to move from one role or industry to another is known as
occupational mobility
geographic mobility
relative mobility
flexible mobility
13
There could be a labour crisis in Australia in a decade because
The govt. is increasing the qualifying age for the pension
A greater proportion of the pop. will be aged 65+
A greater proportion of the pop. will be between 15 and 65
Migrant immigration has decreased
14
To help with the ageing population the Autralian Govt is
Encouraging employers to provide better working conditions
Reducing net migration
Increasing the qualifying age for the pension
Extending the high school leaver age