Which of the Following Determines an Individual's Wage

question 92

Multiple Choice

Which of the following determines an individual's wage?
I. the individual's skills
II. the productivity of the firm the individual works in
III. the shape of the individual's labor supply curve

• A) I and II only
• B) I and III only
• C) II and III only
• D) I, II, and III

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Definitions:

Leadership

The ability to guide, direct, and influence people towards achieving common goals.

Learning Organisations

Companies or organizations that prioritize continuous learning, adaptability, and knowledge sharing among their employees to remain competitive.

Team Organisations

Structures where tasks and responsibilities are assigned to groups rather than individuals, promoting collaboration and joint effort.

Value Chain Philosophy

An approach focusing on the full range of activities required to create and deliver a product or service to consumers, emphasizing the addition of value at each step.