IA1 - COMMENTARY COVERSHEET Economics commentary number...

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COMMENTARY COVERSHEET Economics commentary number: SL Number 1 Title of extract: Protesters demand $33 minimum wage Source of extract: The Standard (Online): http://www.thestandard.com.hk/news_detail.asp? we_cat=4&art_id=95770&sid=27405108&con_type=1&d_str=20100315&fc=1 Date of extract: 15/03/10 Word count: 677 words Date the commentary was written: 15/03/10 Section of the syllabus to which the commentary relates: Sections 2.1.1, 2.1.2, 2.2.1, 3.5.2 Candidate name: Jacky Chong Candidate number:
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Figure 1: A minimum wage in the market for live-in domestic workers. What is the Consequence of Setting a Minimum Wage? Jacky Chong Different types of workers claim they are not getting high enough salaries. The issue of minimum wage legislation is always a hot and debatable topic in Hong Kong. Supporters say that minimum wage helps to protect workers and ensure their basic needs; opponents say that it is contrary the economic freedom and may reduce the jobs for the less competitive workers. A minimum wage is the minimum price controls for human service while the government sets a minimum price above the equilibrium price (wage) to prevent employers from decreasing the workers wage below it. Equilibrium is the state of rest and balance which won’t change
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IA1 - COMMENTARY COVERSHEET Economics commentary number...

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