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Study Notes

Minimum Wage and Living Wage (Government Intervention)

Level:
A-Level
Board:
AQA, Edexcel, IB, OCR

Last updated 3 Jul 2018

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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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