After all other factors of production are paid, wages are paid to labour from the left- out fund: is…
The 'Residual claimant theory' of wages, propounded by the American economist Francis A. Walker, posits that after land, capital, and entrepreneurship have been remunerated…
Choose your answer
After all other factors of production are paid, wages are paid to labour from the left- out fund: is the theme of
Answer and explanation
Correct answer D
The 'Residual claimant theory' of wages, propounded by the American economist Francis A. Walker, posits that after land, capital, and entrepreneurship have been remunerated with rent, interest, and profit, the worker is the residual claimant who receives the remaining share of the total product.
Practice for these exams
-
UGC NET HRM / Labour Welfare and Industrial Relations