Question

Why do workers mostly sell their labor?

(1 point)
Responses

to earn income

to earn income

to grow their productivity

to grow their productivity

to become entrepreneurs

to become entrepreneurs

to avoid inflation

Answer 1

Which of these factors contribute to the income potential of a job? Select the two correct answers.

(1 point)
Responses

the education required to be successful at a job

the education required to be successful at a job

the amount of income a person wants to make at a job

the amount of income a person wants to make at a job

the special skills needed to do a job well

the special skills needed to do a job well

the enjoyment a person finds in a job

Answer 2

Which job would likely have the lowest income?

(1 point)
Responses

a job that many people are willing to do

a job that many people are willing to do

a job that takes highly specialized skills

a job that takes highly specialized skills

a job that requires a college diploma

a job that requires a college diploma

a job that requires a lot of travel

Answer 3

to avoid inflation is not a reason for workers to sell their labor. The main reason why workers sell their labor is to earn income. They trade their skills and time in exchange for wages or salaries that allow them to support themselves and meet their needs and wants. Some workers may also sell their labor to grow their productivity, as working can lead to skill development and career advancement. However, becoming an entrepreneur is usually a different path that involves starting and running one's own business, rather than selling labor to someone else.

Answer 4

The correct answers are:

- the education required to be successful at a job
- the special skills needed to do a job well

Answer 5

The correct answer is: a job that many people are willing to do. When there is a surplus of workers willing to do a certain job, it can drive down wages and result in lower income potential for individuals in that field.