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Eco essay p4

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pastyear:
1)How to explain labour immobility in labour market?
2) What is monopsony? Can someone explain using its diagram or graph?

elemis:
1.) Imperfect information, no money to move to get a job, lack of skills and qualifications especially in MEDCs where the tertiary sectors is the largest, lack of trade unions in some jobs may prevent people from applying for a job etc.

Thats all can think of for now.  ;D

pastyear:
What is MEDCs ?
How about question 2?

elemis:
More Economically Developed Countries

I am doing IGCSE economics so I dont know much about question 2. Sorry  :-\

I answered your other doubt.

pastyear:
Thanks David Ben Ami for your help  :) :)

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