Unit 1 Micro: Rising Wages and Demand for Robotics

In many production processes, human labour and machines are substitutes. Wages are rising quickly in countries such as China. For some years now the annual increase in wages in manufacturing in China has been above ten cent and this rise in labour costs is causing many businesses to consider investment in robotics to fast-forward the process of automatic in factories.

This is known by economists as capital-labour substitution. Rising demand for robotics provides a large commercial opportunity for businesses that supply the necessary technology - many are based in Taiwan. But automation is not a smooth process, businesses replacing people with technology need to be aware of some of the pitfalls - can you think what some of these might be?

This video from Financial Times news provides some of the background

Job board

Teacher of Business and Economics

King Edward VII School, Sheffield

New

Join the tutor2u community

With a tutor2u account you can access extra features to support your teaching & learning.

Subscribe to the daily digest

Curate your own content

Track your training schedule

Manage your resource library

Receive job alerts

Join the community

Already joined? Sign in now ›

More From the Digital Store

A superb set of key topic lesson worksheets & answers for the Year 2 teaching content of AQA A Level Economics, including a series of synoptic worksheets to help linear revision.

£75.00 (+VAT)

AQA A Level Economics (Year 2) Lesson Topic Worksheets

A comprehensive listing of key terms and concepts for A Level Economics together with concise definitions.

£40.00 (+VAT)

A Level Economics Key Term Glossary

Comprehensive, topic-by-topic study notes for the Year 2 teaching content of the OCR A Level Economics specification.

£100.00 (+VAT)

OCR A Level Economics (Year 2) Course Companion

Recruitment

Advertise your vacancies with tutor2u

Much cheaper & more effective than TES or the Guardian. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences.

Find our more ›

Advertise your teaching jobs with tutor2u