This question appeared in the ‘Economics of work and leisure’ module within the OCR specification, and revolves around issues of market failure in the context of labour markets. It is a relatively open question in the sense that you are given a lot of choice in the content of your response. This is therefore a prime example of a question for which there is no ‘model answer’, as there is no unique way of tackling it. Nonetheless, there are key themes that need to be woven into your response, and in my discussion I will try to provide some pointers as to how you could approach the question in a coherent and effective way.
(a) Analyse the causes and consequences of two types of labour market failure. (15 marks)
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