Wage rates are most likely to be set in accordance with administrative rules and procedures in the:
A)secondary labor market
B)internal labor market
C)external labor market
D)orthodox labor market

Question

Quizplus · Accepted Answer

In an internal labor market, wage rates are usually set according to administrative rules and procedures established by the organization. This is because the organization has a pre-existing relationship with the workers, and thus can set wages based on factors such as tenure, performance, and seniority. In contrast, wage rates in the external labor market are often determined by supply and demand factors, while in the secondary labor market (which includes temporary and part-time workers), wages are often lower and less standardized, and may be determined by individual bargaining power or market conditions. The term "orthodox labor market" is not commonly used in labor economics and does not provide a clear basis for answering this question.

Wage Rates Are Most Likely to Be Set in Accordance