wages
Definition
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.
wages is in the Accounting & Auditing and HR, Teams, & Training subjects.
wages appears in the definitions of the following terms:
retroactive pay,
explicit cost,
inflationary spiral,
withholding tax,
labor,
retail price index (RPI),
expense,
checkoff,
earned income,
tax based incomes policy
and
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