Cost of using labor as opposed to cost of using capital or land. As a price of labor, it is subject to the forces of demand and supply in the labor market, which in turn is affected by productivity levels and ability of the employers to substitute labor with other factors of production such as machinery. See also wage.

Use wages in a sentence

  • I wanted to see what wages I would be capable of acquiring once I graduated and became a certified teacher

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  • Hiring people for fare wages should get you a high quality staff and their good work will pay off in the end.

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  • The employees felt there wages were to low since most of them could not afford the houses they lived in.

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