AQA, Aquinas, Economics, ECON1, Markets, Market Failure

1. ECON1
WWW.AQUINASECONOMICSAS.CO.UK
@AQUINASECONOMIC
Imobility & Inequality
Answer all the questions below
1. Explain the term occupational immobility
2. Explain the term geographical immobility
3. Why might labour immobility lead to a misallocation of resources and
ultimately a market failure?
4. Explain the term income
5. Explain the term wealth
6. Why can disparities in the levels in income and wealth be seen as a market
failure?