Asked by Yesenia Lazarte on Jun 08, 2024
Verified
In broad terms,wages paid for a particular "labourer" depend on the relationship between supply and demand for labour,and a specific company's ability to pay.
Labour Market
The supply and demand dynamics of available work and workers within an economy, often influenced by factors such as skills, wages, and employment laws.
- Grasp the fundamental principles that determine wages, including supply and demand.
Verified Answer
AA
Austin ArnallJun 13, 2024
Final Answer :
True
Explanation :
The wages paid for a particular "labourer" are determined by the market forces of supply and demand for labour, as well as the specific company's ability to pay. The relationship between these factors affects the wage rate for a particular worker.
Learning Objectives
- Grasp the fundamental principles that determine wages, including supply and demand.