National Minimum Wage
Lowest legal wage employers must pay employees.
Real World
When the UK National Living Wage rose to £11.44 per hour in April 2024, McDonald's and other fast-food chains faced significantly higher labour costs, prompting some to accelerate investment in self-service kiosks.
Exam Focus
Evaluate both sides: NMW raises worker income but also increases business costs — strong answers weigh which effect dominates for the specific business context.
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