So she will not get a plot for cultivation but a building land is best
So she will not get a plot for cultivation but a building land is best. Because the cost of the foundation is very low, the land can get a good volume
Factors like economic progress, transportation expenditure etc. are also important. Unreasonable disputes over the continent have led to government intervention that fixes the continent to clans, protecting them from land grabs. It also enforces the Rent Control Act in the case of seats in urban areas.
Labor is different from other factors. It relates to a living human being. People who have thoughts, disorders, emotions, intellect, etc. sell their physical and intellectual labor in the production sector. Labor cannot be separated from labour. Similarly, they cannot be stored, so the laborer has to go to the workplace himself and if not used, the labor is wasted. A damaged device is easy to throw away; However, a disabled worker cannot be fired so easily. Both theoretical and practical power of how the remuneration of labor is determined by considering all these features has been analyzed.
We have mainly taken the example of labor while studying the pricing of products. A firm hires a marginal worker only if his or her average productivity is at least equal to the wage he or she has to pay. On the other hand, the profit of the business organization is lower than the productivity wage of the marginal workers, so if the number of workers is more than the marginal labor, then the business organization has to suffer loss or the amount of profit decreases.
Of course, this theoretical analysis is based on the conditions of perfect competition. Also, labor is a homogeneous mass and is assumed to have full capacity. In reality there is a situation of monopolistic competition, monopoly or oligopoly. In such a situation, it is necessary for the workers to organize themselves. Due to this, the strength of trade unions has increased and they have gained importance in terms of wage fixation.
In practice, labor unions negotiate with workers to fix these wages. At that time the owner is thinking about his interests. As wages fall, production overhead increases. If it is not possible to increase the prices, the profit of the business organization decreases. In such a situation, the firm reduces the number of workers to equalize marginal productivity and increased wages. This means that when wages rise, some workers bec
ome unemployed. Labor unions have to take notice of this. The labor union has to choose between wage increase or employment. But shifting the burden of increased outlay on the consumer
Skilled labor is always in short supply compared to the demand, so the salary received by these workers is always popular. Therefore, their actual wages are higher.
On the contrary, the supply of unskilled labor is huge. Hence his wages are so low that he seems to be heavily exploited by the business establishment. For unskilled artisans, unorganized agricultural labourers, maids, handmaids, etc., if the wages of other workers come to mind, the state government passes minimum wage laws considering the interests of the weaker labourers. Paying less than that is illegal.
In a socialist country, the government determines the price and wage policy by taking into account various factors such as the level of consumption, production, availability of production, etc. If the working class wants to reduce the amount of consumption, the sitting level is fixed and the price level is raised. Apart from that, the quantity of goods provided per capita is reduced in the public distribution system. In contrast, when output is abundant, wages are raised, the price level is lowered, and the quantity of goods supplied per capita is increased. That is, the government uses the market mechanism as it wants without considering the equilibrium price.
In conventional analysis, marginal efficiency of capital, availability of loanable funds and demand for credit are considered as determinants, while interest is the price paid for the use of capital. And the basic premise that interest rates are determined by the balance between the demand and supply of credit was presented in the opinion school of thought. Over time this theoretical formulation changed according to the situation. Interest is a completely currency-generated patna by considering factors such as people’s cash holdings, demand for loans, prices of securities in the merchant bank capital market. Thinkers such as Hontrey, Hayek, Keynes, etc.
In practice, interest rates are found to be largely driven by monetary policy in developed money markets and capital where monetary policy is effective. By raising the central remittance rate, the capital market has opened up and the liquidity of banks has changed, thereby increasing the surplus in the market.
Market and Price Determination.