Dintiguish between actual and potential labour force.
The actual labour force is made up of the employed workforce plus those whole are unemployed but actively seeking work. The potential labour force includes people who are economically inactive.
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What is the participation rate?
The labour force participation rate represents the proportion of the working age people who are economically active.
What are the main influences on unit labour costs?
Wages and productivity, impact will be influenced by whether the proportion of of labour costs in total costs and capital costs differ between countries
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What are the factors infleuncing demand for a particular leisure activity?
The price of the activity,
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Other cards in this set
Card 2
Front
What is the participation rate?
Back
The labour force participation rate represents the proportion of the working age people who are economically active.
Card 3
Front
What are the influences on earnings?
Back
Card 4
Front
What are the main influences on unit labour costs?
Back
Card 5
Front
What are the factors infleuncing demand for a particular leisure activity?
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