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\nUnderstanding Minimum Wages and the National Living Wage in the UK\n

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\nThis video discusses the topic of minimum wages and aims to help the viewer understand their effects on labor markets and the associated advantages and disadvantages. The presenter explains what a minimum wage is and how it is typically...\nThis video discusses the topic of minimum wages and aims to help the viewer understand their effects on labor markets and the associated advantages and disadvantages. The presenter explains what a minimum wage is and how it is typically set by governments, using the UK as an example. The video also discusses the coverage of minimum wage, how it is set, and how it can be used to help reduce inequality and poverty. Finally, the video examines the new UK policy of the National Living Wage, its impact on wages, and the potential consequences on workers and employers.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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16:29
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Grade
12th - Higher Ed
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Subjects
Social Studies & History
5 more...
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Media Type
Instructional Videos
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Source:
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\nKnowMo Economics\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Additional Materials

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\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" href=\"/subscription/new\">Video Transcript\n
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Concepts

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economics, markets, wages, income, workers
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Additional Tags

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a-level, lectures, micro, labour, 8.3, minimum, minimum wage, big macs, low end, absolute poverty, george osborne, comfortable lifestyle, equilibrium wage, lower end, monopsony employer, lower wages, real values, living wage, fewer workers, income spectrum, encourage firms, hire workers, older workers, large impact, employment level, wage, living, real, large, effect, increasing
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Classroom Considerations

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Best For: Explaining a topic
Video is ad-free
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Educator Ratings

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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Understanding Minimum Wages and the National Living Wage in the UK\" href=\"/subscription/new\">\"Understanding\n\n
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