Immobility Of Labour Flashcards
1
Q
What is price elasticity of supply
A
This measures the responsiveness to quantity supplied of labour after changes in the price of labour (wage rate)
2
Q
What effects PES (3)
A
time
Availability of labour in other industries = transferable skills
Extent if unemployment and underemployment
3
Q
What labour market failure (2)
A
Geographical immobility of labour
Occupational immobility
4
Q
Geographical immobility what
A
Workers find it difficult to move to other areas = housing costs
5
Q
What is occupational immobility of labour
A
Ability to transfer from one occupation to another
