The minimum wage debate is the topic for the week two economic analysis. A government price floor in the form of a minimum wage is a normative economic debate. Watch the two videos which outline and investigate concepts and issues related to the minimum wage. Consider the principles of market economics and the concepts related to elasticity of demand to answer the following question: does a government$-$imposed price floor in the market for low$-$skilled labor in the form of a minimum wage make good economic sense.