a payment for the services of labour, whether intellectual or physical. Wage
may be paid daily, weekly, fortnightly, monthly or yearly and partly at the end
of the year in the form of bonus.
the price paid to the labourer for the services rendered .
“A sum of money paid under contract by an employer to a worker
for the services rendered”.
divided into four types:
wages are referred to the wages paid in terms of money.
wages are the wages paid in terms of goods and services. Hence, real wages are
the purchasing power of money wages.
that are paid on the basis of quantum of work done.
that are paid on the basis of the amount of time that the worker works.