Employee came into my office asking for a wage
Course:- Business Economics
Length: 468 words
Reference No.:- EM13149040

Assignment Help
Assignment Help >> Business Economics

Not long ago an employee came into my office asking for a wage increase. I responded by asking what increase in productivity the employee brought to the University in order to merit such an increase. The silence was deafening. The things that determine prices for labor are the precise same things that determine prices for labor - supply and demand. The greater the demands for a particular skill, generally speaking the more wages are supplied. Once supply and demand issues have been determined, the next logical differentiation in wages is productivity.

Provide a few real world examples of how supply and demand and productivity work in the marketplace. Discuss the options for employees to increase the demand for his or her particular skills, as well as ways to enhance our personal productivity.

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
While RIMS II, IMPLAN, and other methods regularly deviate substantially from each other in the answers they yield to analytical questions, is there a "band" within results sh
Some services marketers strongly maintain that service marketing is fundamentally different from goods marketing and that different skills are involved. Some traditional goods
Consider the following model of trade between Iceland and Finland. There are two goods: Fish and Wheat. The only factor of production is labor. Each Icelandic worker can produ
You are the manager of a large crude-oil refinery. As part of the refining process, a certain heat exchanger (operated at high temperatures and with abrasive material flowing
The water fountains in Learned Hall are costing $1200 a year to maintain. How much money can you justify spending NOW for new fountains and plumbing (materials and labor combi
Should the government subsidize education or should college education be allocated in the market system in which prices are set by supply/demand? Please provide benefits and p
St. Joseph's school has 1,200 students, each of whom currently pays $8,000 per year to attend. In addition to revenues from tuition, the school receives an appropriation from
The country in this example is a large exporting country. Initially, the country exports motorbikes at the world price of $96. Motorbike producers lobby heavily and receive an