Just or Fair Wage

• refers to income determined by market dynamics, work experience, education and skill. ------ ----is the wage level that is high enough to attract workers but low enough to enable employers to offer employment.

  justified wage
• The following factors influence the determination of wage rate:

  1. Ability to Pay
  2. Demand and supply
  3. Prevailing Market Rates
  4. Cost of Living
  5. Bargaining of Trade Unions
  6. Productivity
  7. Government Regulations
  8. Cost of Traning
• will influence wage rate to be paid, if the concern is running into losses, then it may not be able to pay higher wage rates. A profitable enterprise may pay more to attract good workers. During the period of prosperity

  Ability to pay
• local levels a market conditions or ----- ----- ---- forces to operate at the national and local levels and determine the wage rates.

  demand and supply
• No enterprise can ignore -----------. The wage rates paid in the industry or other concerns at the ignore ---------------rebase for fixing wage rates some unit or concern pays low rates then work leave their jobs whenever they get a job somewhere else.

  Prevailing Market Rates
• In many industries wages are linked to enterprise --- --- --- which ensures fair wages to workers. The wage rates are directly influenced by -- -- -- of a place. The workers will accept a wage which may ensure them a minimum standard of living.

  Cost of Living