Everything you need to know about the theories of wages. Wage means "any economic compensation paid by the employer under some contract to his workers for the services rendered by them". It includes family allowance, relief pay, financial support and other benefits. In the narrower sense wages are the price paid for the services of labour in the process of [...]
Here is a compilation of essays on the ‘Theories of Wages’ for class 11 and 12. Find paragraphs, long and short essays on the ‘Theories of Wages’ especially written for school and college students. Essay on the Theories of Wages Essay Contents: Essay on the Ricardo’s Iron Law of Wages Essay on the Standard of Living Theory Essay on Wages [...]
This article throws light upon the four main theories of wages. The theories are:- 1. Subsistence Theory. 2. Wage Fund Theory. 3. Marginal Productivity Theory. 4. The Bargaining Theory of wages. 1. Subsistence Theory: It states that wages tend to keep to a level that will provide the workers only with bare subsistence. If wages for a time rise above [...]