tutor2u | Minimum Wage and Living Wage (Government Intervention)

Study Notes

Minimum Wage and Living Wage (Government Intervention)

AS, A Level
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

Minimum Wage Analysis - Revision Video

Revision Video: Minimum Wage Evaluation

Minimum Wage Evaluation - Revision Video


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