workers

Question 1

What are wage factors?

Answer 1

This refers to the financial reward a person receives in return for their services

Question 2

What are three non wage factors?

Answer 2

level of challenge,career prospects, and level of danger involved

Question 3

What is the demand for labour?

Answer 3

This is the amount of workers that firms are willing and able to hire at a given wage rate

Question 4

Derived demand

Answer 4

This means that labour is not demanded for itself but for for the goods and services it is used to produce