Lecture 3 - Economic Dimension

Question 1

Name 4 key economical structures of society

Answer 1

1. Capitalist pursuit for profit
2. Global competition
3. Neo-liberal regulation
4. Demographics

Question 2

What is the difference between a short and long run of labour

Answer 2

Short run perceives labour as a trade off of time as a finite resource
Long run perceives labour as human capital

Question 3

Name two forms of labour market

Answer 3

1. Institutional

2. Dual labour market (core and periphery)

Question 4

Name the two groups within the economic dimension

Answer 4

1. Economic structure of society

2. Labour markets