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Edexcel IGCSE Economics 1.2.6 D Minimum Wage Intervention and Diagrams Questions

Practise labour-intervention questions by calculating minimum earnings, drawing wage floors and evaluating minimum-wage rises.

Syllabus
First assessment 2019
Course
Economics 4EC1

Exam points

  • Draw a minimum wage above equilibrium and label labour demanded and supplied.
  • Calculate weekly minimum earnings from hourly wage and given hours worked.
  • Evaluate minimum wage rises using worker incomes, firm costs and unemployment risk.

Edexcel IGCSE Economics 1.2.6 D Minimum Wage Intervention and Diagrams Questions question 1

[Maximum number: 1]

Define the term minimum wage.

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