Why do different workers receive different wages?
In the economy there are many labor markets, including different professions - market of carpenters, market of engineers, market of surgeons and many others. As well as the labor force - a certain number of people willing to sell their labor on these markets. The market of every profession set its own wages - the price at which workers sell their labor to firms. What determines the price of labor? In determining the wages of any market crucially important is the next fact. Markets of all professions are linked with each other, so people can easily move from market ...
