ECONOMICS
HUMAN CAPITAL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The age of the individual
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The number of french fries the person can eat in a minute
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How much fun they have while they work
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The length of training, level of education, and the difficulty of the job
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Detailed explanation-1: -Large differences in wages may be the result of a combination of factors, such as industry of employment, geographic location, and worker skill.
Detailed explanation-2: -Yes, trainees do get a paycheck, however, most trainees earn less than entry-level employees during this period by earning a minimum wage. The general duration of a training position can last from about nine to 24 months. While the wage is low for trainees, it is nevertheless a temporary wage.
Detailed explanation-3: -For example, 2 jobs may have same skill requirement. But, one being a toilet cleaner may require a higher wage to attract enough people to supply their labour for that job compared with being a gardeners. Compensating wage differentials may also be necessary for dangerous jobs.
Detailed explanation-4: -Ability to Pay: Demand and Supply: Prevailing Market Rates: Cost of Living: Bargaining of Trade Unions: Productivity: Government Regulations: Cost of Training: 15-Sept-2019