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Wages:

 

Definition of Wages:

 

Wages are remuneration paid to labor in return for the services rendered. Continue reading.

 

Various System of Wages Payments:

 

The remuneration of labor is paid in various manners and under various names. It can be classified as follows: Continue reading.

 

Payments of Wages on the Basis of Form/Kinds of Wages:

 

On the basis of form, wages are of two kinds, nominal wage and real wage. Continue reading.

 

Why Wages of Women Lower Than Men:

 

The wages of women are generally lower than men because of the following reasons: Continue reading.

 

How are Wages Determined/Theories of Wages Determination:

 

There are various theories of wages which lave been put forward by different economists from time to time but none of them is free from criticism. The most important theories of wages determination are: Continue reading.

 

Nominal and Real Cost of Labor:

 

The payment which a labor receives for his services constitutes his income. But from the point of view of the entrepreneur, that remuneration forms a part of the cost of production. Continue reading.

 

Minimum Wage:

 

"The smallest amount of money that employers are legally allowed to pay someone who works for them". Continue reading.

 

Monopsony:

 

"When there is a single firm hiring the labor in the market, it is called monopsony in economics". Continue reading.

 

 

 

Principles and Theories of Micro Economics
Definition and Explanation of Economics
Theory of Consumer Behavior
Indifference Curve Analysis of Consumer's Equilibrium
Theory of Demand
Theory of Supply
Elasticity of Demand
Elasticity of Supply
Equilibrium of Demand and Supply
Economic Resources
Scale of Production
Laws of Returns
Production Function
Cost Analysis
Various Revenue Concepts
Price and output Determination Under Perfect Competition
Price and Output Determination Under Monopoly
Price and Output Determination Under Monopolistic/Imperfect Competition
Theory of Factor Pricing OR Theory of Distribution
Rent
Wages
Interest
Profits
Principles and Theories of Macro Economics
National Income and Its Measurement
Principles of Public Finance
Public Revenue and Taxation
National Debt and Income Determination
Fiscal Policy
Determinants of the Level of National Income and Employment
Determination of National Income
Theories of Employment
Theory of International Trade
Balance of Payments
Commercial Policy
Development and Planning Economics
Introduction to Development Economics
Features of Developing Countries
Economic Development and Economic Growth
Theories of Under Development
Theories of Economic Growth
Agriculture and Economic Development
Monetary Economics and Public Finance
History of Money

 

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