The price paid per unit of labor services
The amount of money received per hour, day, or year
The quantity of goods and services a worker can obtain with nominal wages
Country with the highest hourly wages of production workers
purely competitive labor market
A market in which numerous firms compete with one another in hiring a specific type of labor; each of many qualified workers with identical skills supplies that type of labor; individual firms and individual workers are "wage takers" since neither can exert any control over the market wage rate
Please allow access to your computer’s microphone to use Voice Recording.
We can’t access your microphone!
Click the icon above to update your browser permissions and try again
Reload the page to try again!
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Your microphone is muted
For help fixing this issue, see this FAQ.