A job where there are many workers willing to work a large amount of time (high supply) competing for a job that few require (low demand) will result in a low wage for that job. This is because competition between workers drives down the wage. An example of this would be jobs such as dish-washing or customer service. Competition amongst workers tends to drive down wages due to the expendable nature of the worker in relation to his or her particular job. A job where there are few able or willing workers (low supply), but a large need for the positions (high demand), will result in high wages for that job. This is because competition between employers for employees will drive up the wage. Examples of this would include jobs that require highly developed skills, rare abilities, or a high level of risk. Competition amongst employers tends to drive up wages due to the nature of the job, since there is a relative shortage of workers for the particular position. Professional and labor organizations may limit the supply of workers which results in higher demand and greater incomes for members. Members may also receive higher wages through collective bargaining, political influence, or corruption.
What has the tendency to increase wages in a field or job position? When there are many workers competing for a few jobs its considered as what? What is the potential earnings for a job where there are few skilled workers but many available positions? What can lead to higher wages for members of labor organizations? Who works to get workers higher compensation? What does many workers willing to work for a lot of time competing for a job that only requires a few workers result in? What drives down wages in a job with many workers willing to work a lot? Why does competition among workers drive down wages? What type of wages result from jobs where there is low supply but high demand? While competition between workers drives down wages for jobs with a high supply of worker, whose competition drives wages up for the inverse?