EPF4 demonstrate knowledge that many factors affect income
   Income for most people is determined by the    market value of the productive resources    they sell.
   To earn income, people sell productive    resources. These include their    labor, capital, and natural resources and ...
   A wage or salary is the price of labor; it    usually is determined by the supply of and    demand for the skills and ...
4a market value of a worker
4a market value of a worker
Upcoming SlideShare
Loading in …5
×

4a market value of a worker

541 views
485 views

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
541
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
2
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

4a market value of a worker

  1. 1. EPF4 demonstrate knowledge that many factors affect income
  2. 2.  Income for most people is determined by the market value of the productive resources they sell.
  3. 3.  To earn income, people sell productive resources. These include their labor, capital, and natural resources and entrepreneurial talents. In a market economy, the market value of a resource is determined primarily by the supply and demand for that resource.
  4. 4.  A wage or salary is the price of labor; it usually is determined by the supply of and demand for the skills and knowledge (human capital) a person has.

×