ECO 212 Week 2 DQ 2 - 7525

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What is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?

Wages are related to productivity. Generally the more an individual produces the more the individual will earn in wages. My income from the small business that I operate is directly linked to the revenue that the business produces. The more proficient and cost effective the business runs the more revenue the company will produce. In addition to how well the business runs there are other outside factors that will influence revenue and that is advertisement and customer relations. Customer relations is important because we rely on return business and word of mouth to generate a good portion of the sales we do the rest comes from advertisement. The more efficient and productive that I am at accomplishing my job has a large impact on my wages as well as the overall health of the company.


Solution Description

What is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?