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Question 36 of 38

Q.______ wages are the wages paid in terms of goods and services.

(a) Real wages
(b) Nominal wages
(c) Piece wages
(d) Time wages
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2026MCQ· 1mImportance★★★★★
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Wages paid in terms of goods and services are real wages — option (a).

Wage concepts in distribution analysis:

  • Nominal (money) wages — the amount of money a worker receives for labour, expressed in rupees.
  • Real wages — the goods, services and amenities the worker actually obtains for that labour, i.e. the purchasing power of the money wage plus any payments in kind (free housing, food, etc.). Real wages show the true standard of living.
  • Piece wages — paid according to the quantity of output produced. …

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