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
Market Failure - Income and Wealth Inequality
Study Notes
Maximum Prices - Analysis
Topic Videos
![](https://tutor2u-net.imgix.net/user-photos/gbr_profile.jpg?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=100&q=80&w=100)
Pay-per-mile scheme considered for non-British lorries
30th December 2017
Minimum Wage - Evaluation Phrases in Action
Study Notes
3.5.3 Minimum Wages and Unemployment (Edexcel A-Level Economics Teaching PowerPoint)
Teaching PowerPoints