Search Here ….

Tags

A* strategy AI and Education A Levels Economics Artificial Intelligence assessment objectives basic economic questions Behavioural Economics Bounded Rationality Cambridge A Levels Cambridge IGCSE 0455 ChatGPT Cognitive Offloading development economics Econometrics economic decision making Economic Development Board economics and politics economics students economic systems comparison exam strategy Goh Keng Swee how societies allocate resources how to revise for IGCSE Economics Human Capital IGCSE 0455 IGCSE Economics individual agency in economics Intelligence and Technology Jurong Industrial Estate Large Language Models Lee Kuan Yew National Service nation building political economy Productivity and AI resource allocation role of government in economy scarcity and choice sepupu Singapore AI Governance Singapore Armed Forces Singapore history Siti Mastura Southeast Asia AI who decides economics

Cambridge A Level Economics 9708 October November 2024 Paper 4, Variant 3 – Sample Answers and Examiner Commentary – Question 3

Question:

Question 3: Wages in a perfectly competitive labour market will always be higher than wages in a monopsony labour market. With the help of a diagram, evaluate this statement. [20]

Sample Answer:

To view this content, please sign up for a membership!

If you haven’t signed up yet, make sure to Join Now!
Already a member? Log in here