Focuses on the relationship between employers and workers, how the laws of supply and demand operate in the labour market and companies’ need for ‘output’. Students also learn about why people work and analyse ‘the income effect’ and ‘the substitution effect’. Listening exercises focus on the law of diminishing returns and the various reasons why some jobs are better paid than others.

Photo of employers and employees together or photo of people working, in a factory or in a farm for example, to illustarte the concept of 'labour'.

Source: Ian Lishman, Getty Images/Juice Images RF


Click link to download and view these files