Economics · May / June 2025 · Paper 21 · Question 3
2281
As printed in the paper
The question as text
In recent years, the quantity of Latvia’s factors of production has changed. Since 2008, its capital has increased and its land has not changed significantly, but its labour force and its enterprise have decreased. Enterprise and conditions of supply can affect firms’ prices. In 2022, the Latvian Government increased the country’s national minimum wage (NMW). Its NMW did, however, remain one of the lowest in the European Union.
Read automatically from the paper; the printed page above is exact.
Show the answer and mark scheme
3(a)[2]
3(b)[4]
3(c)[6]
3(d)[8]
Make a free account to save your answers and see your weak topics and ask the AI why a wrong answer is wrong.