What's it: Wage rigidity refers to a situation where wages are insensitive to changes in supply-demand in the labor market. For instance,
Wage
Wage: How it works and Types
What's it: Wages are irregular payments to workers. Companies may pay them based on the hours worked or their output. It may be paid daily,
Time-Based Wage: How it Works, Pros and Cons
What's it: Time-based wage is a remuneration system calculated based on the time contributed by workers. It is usually calculated based on hours
Piece-rate Wage: How it Works, Advantages and Disadvantages
What's it: A piece-rate wage is a wage system in which workers are paid based on the output produced. This is an alternative to time-based wages,