In the _____, households work and receive payment from firms.

In the _____, households work and receive payment from firms.

a) financial investment market

b) financial capital market

c) labor market

d) savings market

Answer: c) labor market

The labour market instant is the place where households provide services of their labour to the firms in consideration of wages or salary. This market can be defined as the market which involves workers, that is the household looking for employment opportunities and employers those are the firms who are in search of employees. In this market, human resources sell their talent, dedication, and hard work to firms while they are paid for it. This compensation can take several forms, these are wages per hour, annual rate of pay, bonuses and Employee benefits. The labor market as a fundamental segment of the economy is responsible for the distribution of people in organizations and that defines employment and wages or salaries. It is where the centres of our significant economic themes including supply of labour, demand for labour and wages and the determination of the balance are set through the relation between the worker and the employer.