Question

Which of the following is most important in determining the wages for a job?

A. the number of people applying for the position
B. the location of the business
C. the demand for the worker's skills
D. the size of the company

Answer 1

The demand for the worker's skills is the most important factor in determining wages for a job. The correct option is C. the demand for the worker's skills

Step-by-step explanation:

The most important factor in determining wages for a job is the demand for the worker's skills. People who have talents, skills, education, or training that is in short supply and is needed by businesses tend to earn more than people without comparable skills.

The demand for labor is determined by how businesses perceive the state of the macroeconomy. If businesses believe that the economy is expanding, they will desire to hire a greater quantity of labor, which will increase wages.

On the other hand, in times of economic recession, businesses will hire fewer workers, reducing wages. The correct option is C. the demand for the worker's skills