Question

Choose the factual precept concerning wages:A) an employer's financial capabilities are irrelevant to the question of fair wagesB) a fair wage is whatever an employee is willing to acceptC) extrinsic, non-job-related considerations are often relevant to setting fair wagesD) a fair wage presupposes a fair work contract

Answer 1

Answer:

Option D          

Explanation:

In simple words, factual precept refers to the rules or guidelines that controls or regulates a work system. Thus, in reference to wages, the basic rule for fair wage system should be that, wages should be fixed and given as per the amount  of work one is performing.

The capability of employer is relevant as the amount of work is significantly dependent on level of employer. The fair wages are determined from various other factors such as past work experiences and current market conditions in respect of wage levels.