OCR GCSE Economics - 2.7 - The Labour Market

Which of the following is likely to 'supply' workers?

• Firms

• Households

• Government

Which of the following is likely to 'demand' workers?

• Firms

• Households

• Government

Which of the following is the correct definition for salary?

• The amount of money a worker earns per hour

• The amount of money a worker earns after they have paid tax

• The amount of money a worker earns yearly

• The amount of money a worker earns monthly

Which of the following is a main role of trade unions?

• To protect the firms from workers that cannot do their jobs

• To argue for high pay at all times

• To protect workers from being exploited by firms

Which of the following is the correct definition for derived demand?

• When the demand for one product depends on the demand for another product

• When products are in equal demand

• When there are too many consumers demanding a product

• When supply and demand are equal

Which of the following is likely to increase the demand for labour?

• A slowing economy

• A fall in the demand for products across the UK

• A fall in wages

• A fall in a firm's profits

Which of the following is likely to increase the supply of labour?

• An increase in wages

• A fall in population

• An increase in benefit payments

• A fall in investment in education and training

Which of the following is not taken off a person's pay?

• National Insurance

• Tax

• Student Loan

• Food Shop

If a person receives £2,000 in wages and a bonus of £200, what is their gross pay?

• £1,800

• £2,000

• £2,200

• £200

What is a person's Net Pay if a person receives £24,00 gross pay and pays £2,512 in income tax, £1,925 in National Insurance contributions, and £1.440 in Pension contributions.

• £18,123

• £22,075

• £24,000

• £26,512