Analyze the reasons why the wage or salary paid to workers in jobs is usually determined by the labor market and that businesses are generally willing to pay more productive workers higher wages or salaries than less productive workers.
Explain why wages or salaries vary among workers in different types of jobs and among workers in the same jobs.
Discuss why the productivity of workers is important to businesses.
Subject Area: Social Studies
Strand: Financial Literacy
Date Adopted or Revised: 04/15
Status: State Board Approved