workers Flashcards
1
Q
What are wage factors?
A
This refers to the financial reward a person receives in return for their services
2
Q
What are three non wage factors?
A
level of challenge,career prospects, and level of danger involved
3
Q
What is the demand for labour?
A
This is the amount of workers that firms are willing and able to hire at a given wage rate
4
Q
Derived demand
A
This means that labour is not demanded for itself but for for the goods and services it is used to produce
