What is considered a wage?

Question

Any amount paid to someone for any reason.
An annual amount agreed upon in advance paid to a full-time employee to perform a role regardless of time spent.
A fixed amount paid per completion of a unit of a good.
A fixed amount paid per period of time spent working.

Answer 1

A wage is a fixed amount of money that is paid to an employee in exchange for their work or services. It is typically paid on a regular basis, such as hourly, daily, weekly, or monthly. The wage can vary depending on factors such as the type of job, the skills and experience of the worker, and the prevailing market rates.