What this practice covers
These questions are drawn from past Edexcel A-Level papers and filtered to the labour market. You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
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What examiners see students get wrong here
These are the errors that cost marks on the labour market, taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Forgetting that labour demand is derived.
- Confusing MRP with marginal physical product, MRP is measured in revenue.
- Drawing MCL below ACL for a monopsonist; it must be above.
- Reading the monopsonist's wage off the MRP curve instead of down to the supply curve.
- Claiming a minimum wage always causes unemployment, ignoring monopsony and efficiency wages.
- Saying unions always cost jobs, under monopsony they can raise wages and employment.
- Explaining wage differentials only by MRP, ignoring elasticity of supply and immobility.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: The Labour Market revision notes.