All of the following would tend to increase a worker's wage except ?
Correct answer: E. doing a job that is fun
- A. Working the night shift
- B. working harder
- C. more education
- D. having a greater amount of natural ability
- E. doing a job that is fun
Explanation
A fun job provides a non-monetary benefit, so workers may accept a lower wage for it. Night work, greater effort, education and natural ability can justify higher pay through inconvenience, productivity or skills.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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