- Group(s): Labour Markets Key Terms
A scenario in a labour market in which there is a monopoly supplier of labour (i.e. a trade union) and a monopsony buyer of labour. The wage rate will depend on which of the monopoly or the monopsony is stronger in terms of relative bargaining power.
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The A Level Economics Strong Foundations workshops are designed to support all Year 13 A Level Economics students as they complete the fourth term of their two-year linear course.
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