Summary

The Demand for Labour is influenced by how productive labour is

The Marginal Productivity Theory looks at how much an extra worker contributes to total revenue

Supply of labour is influenced by monetary and non monetary factors including wage rates, overtime, benefits and team working

Wage rates are determined by a number of factors including the skills and experience needed for the role

Trade unions can influence wage levels through collective bargaining however their influence is decreasing

Discrimination occurs in the Labour Market there have been laws to reduce this however there are still wage differentials between genders

The Distribution of Income and Wealth is uneven in the UK