The determination of wages in a labour market depends on the?

A. Government
B. People
C. Interaction between demand and supply of labour
D. Economy

Correct Answer: Option C

C. Interaction between demand and supply of labour

Explanation

Irrespective of the presence of labour unions, labour laws and other forces, the interaction between dd and ss of labour determines the wages in a labour market i.e where dd for labour equals ss of labour.