Minimum wage policies - PowerPoint PPT Presentation

Production Function

Production Function. Production Function – a function that defines the maximum amount of output that can be produced with a given set of inputs. Q = f(K,L) Where K = Capital and L = Labor. Various Production Functions. Linear Production Function Q = aK + bL Inputs are perfect substitutes

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Are labour markets polarising?

Are labour markets polarising?. Craig Holmes. VML workshop on Skills Department of Business, Innovation and Skills, Sheffield July 23 rd 2010. Introduction. A person’s skills derive from a number of sources: Education (general skills)

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