Notes on Real wage, Derived demand for labors and Marginal Revenue product of labour. Wage measured in terms of goods and services is called real wage. Real wage is the buying capacity of money wage.
Tag Archives | Real Wage
Real wages are influenced by the following factors : 1. Purchasing Power of money 2. Extra Earnings 3. Additional Receipts in Kind 4. Working Hours 5. Regularity of Employment 6. Working conditions 7. Nature of the job 8. Future Prospects 9. Occupational Expenses 10. Relative Social Prestige.