File Name: labour market economics theory evidence and policy in canada .zip
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops , by employers who were thought to have unfair bargaining power over them.
Agricultural economics , study of the allocation, distribution, and utilization of the resources used, along with the commodities produced, by farming. Agricultural economics plays a role in the economics of development , for a continuous level of farm surplus is one of the wellsprings of technological and commercial growth. That does not mean that a country is poor because most of its population is engaged in agriculture; it is closer to the truth to say that because a country is poor, most of its people must rely upon agriculture for a living. As a country develops economically, the relative importance of agriculture declines. The primary reason for that was shown by the 19th-century German statistician Ernst Engel , who discovered that as incomes increase, the proportion of income spent on food declines. It follows that as incomes increase, a smaller fraction of the total resources of society is required to produce the amount of food demanded by the population. Their fear was based on the so-called law of diminishing returns : that under given conditions an increase in the amount of labour and capital applied to a fixed amount of land results in a less-than-proportional increase in the output of food.
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops , by employers who were thought to have unfair bargaining power over them. Over time, minimum wages came to be seen as a way to help lower-income families. Modern national laws enforcing compulsory union membership which prescribed minimum wages for their members were first passed in New Zealand and Australia in the s.
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Craig Riddell University of British Columbia. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, or stored in a data base or retrieval system, without the prior written permission of McGraw-Hill Ryerson Limited, or in the case of photocopying or other reprographic copying, a licence from The Canadian Copyright Licencing Agency Access Copyright. For an Access Copyright licence, visit www. Statistics Canada information is used with the permission of Statistics Canada. ISBN ISBN 1 2 3 4 5 6 7 8 9 10 TCP 1 9 8 7 6 5 4 3 2 Printed and bound in Canada Care has been taken to trace ownership of copyright material contained in this text; however, the publisher will welcome any information that enables them to rectify any reference or credit for subsequent editions.
Produced by: Labour Market Information and Research Unit Gunderson, and Riddell (), Labour Market Economics: Theory, Evidence, and. Policy in Canada, 5th edition. 31 See hazarsiiraksamlari.org
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