ECONOMICS
INCOME DISTRIBUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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education level
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talent/skill level
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work habits
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family support and values
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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: -Many workers are denied fair wages by their employers. Because they badly need work, workers have no bargaining power and are paid low wages. This law is meant to protect the interests of all workers; particularly, farm labourers, construction workers, factory workers, domestic workers, etc.
Detailed explanation-3: -Bottom line: motivated employees want to work for positive, motivated leaders. Autonomy – Employees want to feel like their ideas matter and that they are capable of running projects and making decisions. Micromanagement will crush employee innovation, creativity, and initiative.
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