Labour Market

Describe the characteristic features of labour markets in developing countries.

Introduction Labour markets in developing countries are distinct in structure, behavior, and functioning compared to those in developed economies. These differences arise from demographic, institutional, economic, and social factors. Understanding the features of labour markets in developing countries is crucial for designing effective employment and development policies. Characteristic Features of Labour Markets in Developing Countries […]

Describe the characteristic features of labour markets in developing countries. Read More »

Why do you find variations in the wage-rates across different professions? Give reasons as to why a professor is paid higher salary than a school teacher?

Introduction Wages are the monetary rewards given to labour for their services. However, not all workers earn the same wages. There are significant variations in wage-rates across different professions such as engineers, doctors, teachers, or factory workers. These wage differences exist due to several economic and non-economic factors. In this answer, we will explain why

Why do you find variations in the wage-rates across different professions? Give reasons as to why a professor is paid higher salary than a school teacher? Read More »

Disabled !