Which of the following is/are determinant(s) of supply of labour ? a. other wage rate b. non-wage…
In labour economics, the market supply of labour to a particular occupation or industry is determined by multiple variables: wages offered in alternative occupations (a),…
Choose your answer
Which of the following is/are determinant(s) of supply of labour ? a. other wage rate b. non-wage income c. preferences for work versus leisure d. number of qualified suppliers
Answer and explanation
Correct answer C
In labour economics, the market supply of labour to a particular occupation or industry is determined by multiple variables: wages offered in alternative occupations (a), non-wage income and wealth (b), workers' utility preferences between work and leisure (c), and the total number of qualified workers in the population (d). Therefore, all four factors—a, b, c, and d—are determinants of labour supply.
Practice for these exams
-
UGC NET HRM / Labour Welfare and Industrial Relations