Wages:
In economic term wages means the compensation which a person receives for his mental or physical work..
This compensation may be
In the form of money or goods. However, generally wages are in the form of energy.
Kinds of wages :..
⚫ Nominal wages
⚫Real wages.
⚫ NOMINAL WAGES:....
Nominal wages means compensation which a worker receives in the form
Of money.
⚫Real wages means all those goods and services which a worker receives in return for his work.it includes besides salary, all the facilities and benefits given to the worker.