Key takeaways
Understand why the supply curve for labour slopes upwards from left to right.
Understand what the substitution effect and income effect are.
Understand monetary and non-monetary considerations can affect the supply
Host: I have taught Economics for the last 27 years, since completing my PGCSE in Business Education at Sheffield Hallam University. I have been a heard of department for the last 20 years and have worked as an examiner for AQA.The supply curve for labour shows how much labour a worker will supply at different wage rates. In this lesson, students will learn how the supply curve for labour is created and how it can be affected by both monetary and non-monetary factors. Students will also learn why the supply curve for labour slopes upwards from left to right as well as what the substitution and income effects are. This class is aimed at students in Years 12-13 who want to gain a better understanding of economics!
Have you seen these videos?: AS Economics: The Supply Curve, A2 Economics - Wage Determination, The Theory of Diminishing Returns
Safeguarding reminder:The safety of your child is of the utmost importance. All of our classes are pre-recorded to remove any concerns around live participation. For reruns of our past live classes, students' webcams and microphones were disabled and only the chat history, if participation was requested, is visible.
Suitable for:
This class is suitable for students in Years 12 and 13.
Class requirements:
You will need a laptop or device with internet connection to watch the class, as well as a pen and notepad for taking notes.
What to expect:
- This class will take place online via a Zoom webinar.
- For live classes, please arrive promptly. Students' cameras and microphones are disabled by default.
- For on demand classes, students will be watching a recording of a previous live class.
- Once you have signed up, you will be taken to your dashboard where you can view details of the class, and re-watch it in the future.
- Students will be sent confirmation of the class to their email address if provided.