Would you like to earn a high income? How can you go about
achieving that goal? Many factors differentiate wages in a
variety of occupations, as well as within the same occupation in
different areas of the country. Knowing those factors can give
you the information you need to find careers with the income
levels you want. Let's find the wage rates in the career you are
considering. In this lesson you will explain that supply and
demand are the primary factors in determining wages. You will
also, identify several specific factors that affect wage rates
and explore wage rates in your potential career. Lastly, you
will analyze why wage rates in your state may differ from the
national average wage for your career. Several factors influence
wages, including the supply of and demand for labor, the value
of the products workers produce, and worker productivity.
Workers who are productive and who produce highly-valued
products will tend to earn higher wages. One of the most
important factors in determining wages is t