Question

You know more about yourself (your work habits, your values, your strengths and skills) than any prospective employer. This is an example of Covert Information Latent Information O Protected Information Asymmetric Information QUESTION 6 Wages in excess of the market-clearing rate designed to increase worker productivity and maximize profits are known as Excessive wages Family wages Piece-rate wages Efficiency wages

Answer 1

Asymmetric information

You know more about yourself ( your work, your habit your values your strength and skill) then any prospective employer this is an example of asymmetric information. Means you know more about yourself your job your profession your business , asymmetric information - when buyers and sellers do not have the same information for example seller has more information of good and services that sellers provide than the buyer. Ex-  doctors know more about medical practices, medical field information than their patients. After all, doctor have more medical educational backgrounds , medical skill and strength , values that their patients generally don't have.

6)

The correct answer is option:( d )

Efficiency wages

Wages in excess of the market-clearing rate designed to increase worker productivity and maximize profits is called Efficiency wages. as increasing wages can lead to increase labour productivity because worker's fell motivated to work with higher payment's ( wages) this will lead to increase labour productivity..and if workers receive higher wages the are more loyal with the company and work with more loyalty.

Thankyou....

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