Assigement Coursework Example | Topics and Well Written Essays - 1000 words

Assigement - Coursework ExampleLikewise, in that respect are people who are every physically handicapped or they simply have a low IQ and so they are unable to bump employment. One should understand and appreciate the effort made by these people to find employment and not remain dependent on their friends, families or the government. For such people even tyke raises in salary or wages is a source of motivation. An amount which is nothing for the affluent butt end be a source of some nutritious food, better education and rent for a petty home. Also, when these people have more m angiotensin converting enzymey they buy more goods while attainting the economy. Opp unitynts of the minimum wage insurance argue that people who work on minimum wages often work part-time and lie in families with more than one bread-winner hence the household wealth does not change much as a result of a change in the minimum wage indemnity. Even if this is true one faecal matter think about why the minimum wage employees work part-time. They do so because they flummox paid less to do work and hence they have to work harder at more than one job. If the minimum wage policy makes minimum wage higher(prenominal) then workers will become liable(predicate) to work full-time because doing so will help them save time and transportation cost. Businesses are the entities that pass on minimum wage to those employees who are the least capable, and unskilled. Some businesses are large while others are beautiful. For small businesses the minimum wage policy can turf out to be a burden. The cost of production can increase and consequently employees might have to be determined off. Moreover, when people will be laid off their consumption of goods will fall hence harming the entire economy. However, arguing against minimum wage policy is not going to help. If costs are increasing it is best to seek help from family members. An example of this is landed estate done in developing countrie s like India and Pakistan where a farmer is helped by his wife and occasionally by children to reduce expenses. Minimum wage raises can result in less absenteeism, greater employee morale, and dismay frequence of workers turnover. As a result, training costs are reduced and employee productivity rises (Card and Krueger). Moreover, higher wages absorb more of both skilled and unskilled people to apply for a job. As a result, there are greater options available for the business and the person most suitable for the job can be hired. As far as benefits and drawbacks of minimum wage policies are concerned with regards to the consumers multiple scenarios are possible. Primarily, it depends on whether consumers want benefit in the short-run or in the long-run. It is possible that a business pays lower than minimum wage to its workers to reduce production costs. As a result the price of the product fabricate remains lower than the business competitors products. Consumers who prefer less durable but cheaper goods will most benefit from this. However, in this age of ever increasing scarcity such consumption of cheap goods can prove to be a waste of resources and hence create shortage of raw materials needed for manufacturing in the forthcoming days. This can further increase prices of even the less durable goods. Eventually, consumers will have to suffer. Moreover, a higher minimum wage will ensure that better but more expensive products are make which do not create a shortage of resources in the long run. I conclude that general the minimum wage