The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6

-According to the idea of comparable worth, a firm employing secretaries and steelworkers should ideally pay equal wages to both the groups of workers irrespective of the type of job each group does.

Question

The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6
 
-According to the idea of comparable worth, a firm employing secretaries and steelworkers should ideally pay equal wages to both the groups of workers irrespective of the type of job each group does.

Quizplus · Accepted Answer

The idea of comparable worth argues that jobs of equal value to the employer should be paid equally, but it does not ignore the differences in job content, skills, and responsibilities. It aims to ensure fairness in pay for jobs that are different but contribute equally to the organization's success, not to mandate equal pay for all jobs regardless of their nature or contribution.

The Following Figures Show the Demand (D) and Supply (S)