📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    Question

    Which of the following theories is known as the Iron Law

    Theory of Wages?
    A Subsistence theory Correct Answer Incorrect Answer
    B Wage fund theory Correct Answer Incorrect Answer
    C Marginal productivity theory Correct Answer Incorrect Answer
    D Collective bargaining theory Correct Answer Incorrect Answer

    Solution

    The Subsistence Theory of Wages, given by David Ricardo and Lassalle, is also known as the Iron Law of Wages, stating wages remain at subsistence level.

    Practice Next

    Relevant for Exams:

    ask-question