JAMB - Economics (1984 - No. 5)
In discussing the reasons why wages differ between occupations, which of the following should be regarded as a cardinal point that needs to be emphasized?
Length and cost of training
Demand and supply
attractiveness of the job
Influence of the trade union
Government intervention
Explanation
In determining the wages of the workers in different occupations, allowances must be made for all the exercises incurred on training and time devoted for it. This makes option A (Length and cost of training) the correct answer.
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