Types of Wages
Description: This quiz is designed to assess your understanding of different types of wages and their characteristics. | |
Number of Questions: 15 | |
Created by: Aliensbrain Bot | |
Tags: economics labor market wages |
Which type of wage is determined by the market forces of supply and demand?
What is the difference between real wage and nominal wage?
Which type of wage is set by the government and is legally enforceable?
What is the purpose of a minimum wage?
What is the efficiency wage theory?
Which type of wage is based on the worker's performance or output?
What is the advantage of a piece rate wage system?
Which type of wage is based on the worker's seniority or years of service?
What is the purpose of a seniority wage system?
Which type of wage is based on the worker's skill level or qualifications?
What is the purpose of a skill-based wage system?
Which type of wage is based on the worker's performance relative to other workers?
What is the purpose of a merit wage system?
Which type of wage is based on the worker's ability to negotiate with their employer?
What is the purpose of a bargained wage system?