Wages are to some extent determined by the
Marginal utility of labour
Marginal productivity of labour
Average productivity of labour
Total productivity of labour
Amount of goods and services that the wage can fetch
Correct answer is B
No explanation has been provided for this answer.
Form of money
Means of exchange authorized by the state
Commodity generally acceptable as a meduim of exchange
Total productivity of labour
Amount of goods and services that the wage can fetch
Correct answer is B
A legal tender is a form of money or means of exchange that is recognized by courts of law as satisfactory payment for any monetary debt.
Which of the following is the most important reason why wages differ among occupations?
Length and cost of training
Supply of labour
Attractiveness of the job
Influence of trade unions
Government decision
Correct answer is B
No explanation has been provided for this answer.
The grouping of a population into males and females is known as the
Geographical distribution
Age distribution
Sex distribution
Man-woman distribution
Occupational distribution
Correct answer is C
No explanation has been provided for this answer.
Distribution is part of production because it
Makes goods and services available to the final consumer
Transport the goods from place to place
Offers employment to people
Encourages the provision of good roads, waterways and railways
Links the consumer with the producer
Correct answer is A
No explanation has been provided for this answer.