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What Is the Process That Determines the Relative Value of One

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What is the process that determines the relative value of one job in relation to another?


Definitions:

Supply

The total amount of a product or service available for purchase by consumers.

Wages

Payments made to workers for their services, typically calculated on an hourly, daily, or piecework basis.

Taxes

Compulsory contributions to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.

Farming Business

The operation of cultivating land, raising crops, and sometimes raising livestock, for the purpose of producing food and other agricultural products for consumption and sale.

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