Economics
Explore Economics
Study Notes
Minimum Wage and Living Wage (Government Intervention)
- Level:
- AS, A Level
- Board:
- AQA, Edexcel, OCR, IB
Last updated 3 Jul 2018
A minimum price is a price floor below which the market price cannot fall. To be effective the minimum price has to be set above the equilibrium price. The best example of a minimum price is a minimum wage in the labour market
Revision Video: Minimum Wage Evaluation
You might also like
Minimum Wages - Analysis of Impact (Labour Markets)
Student Videos
Minimum Wage and Living Wage
Student Videos
UK national living wage to rise by 6.2% in 2020
31st December 2019
Inequality in the UK Economy
Student Videos
Minimum Wages - Evaluation (Labour Markets)
Student Videos
Whitbread to pay the Living Wage
9th September 2015
Measuring a minimum income standard
29th July 2014
Should there be a maximum wage?
29th July 2014
Recommended
Exam support for 2022
Online Grade Booster Courses for A-Level Exams in May & June 2022
Exam technique, advance information support, live revision and more from the tutor2u subject specialist teams