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C. In many countries including Pakistan, wages in skilled labour markets (doctors, engineers, IT specialists, chartered accountants, etc.) are much higher than those in the
C. In many countries including Pakistan, wages in skilled labour markets (doctors, engineers, IT specialists, chartered accountants, etc.) are much higher than those in the unskilled labour markets where wages are very close, if not equal, to the minimum wage rate. i. Use demand-supply diagrams to demonstrate what could have created the wage differential between skilled and unskilled workers? ii. What effect could this wage differential have on the market for unskilled workers over time? Again use a diagram to demonstrate this effect
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