Economics 0455 · IGCSE · Employment and unemployment
Employment and unemployment — practice question
In December 2021, unemployment in the United Kingdom (UK) dropped to 4.1%. Under normal market forces, this lower unemployment would usually be expected to push wages up. Even so, workers’ living standards did not rise. New international trade deals were not arranged quickly enough to make up for the fall in trade between the UK and the European Union.
(a)[2]
Identify two methods used to measure unemployment.
(b)[4]
Explain two factors, other than unemployment rates, that might affect living standards.
(c)[6]
Analyse how market forces can lead to higher wages.
(d)[8]
Discuss whether free trade between countries does or does not raise economic growth.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “the Claimant count” …