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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is die “price” commonly called in the labor market?

To determine

What is the "price" commonly called in the labor market?

Explanation

Price is defined as the amount which is paid for the goods and services

Labor market is a place where laborers work and where they render their services. So, they get paid for the services rendered by them so this payment to them for their services is termed as wages...

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