Watch Video DB #3A:What are we worth? Respond to the DB prompt in a new thread (
ID: 1157396 • Letter: W
Question
Watch Video DB #3A:What are we worth? Respond to the DB prompt in a new thread (150-word minimum) by Wednesday at 11.59 pm, making sure to incorporate information from this weeks matenials in your answer. (Copying the DB prompt or large-scale quotes from other students' posts or online sources are not counted toward the word peers responses (75-word minimum) by Sunday at 11:59 pm. Late major comments are penalized 1 point per day late. Posts are NOT to be made as attachments or they will be downgraded Note that you will not see your peers posts before making your own. For more information on how the DB is graded, please see Consider all this: We are now in the section discussing labor markets, labor supply, labor d remuneration. Baseball players get paid millions of dollars to perform their expected on- on (http //www.spotrac.com/mibinew-york-yankees). In comparison nd and wages, among other items. There are tremendous differences in d off-field duties, maintain their physical condition, support their clubs and so html). If the average NYC public school rs are paid approximately double the median wage for the nation, it still does not seem like much in comparison to about $80k nys teacher salaties by_district county region look up_com years, he/she has touched the lives of thousands of young people helping teacher teaches 35 students per class p develop their intellect Although NYC public school teacher professional athletes. From this unit's chapter what's one factor that explains the disparity between NYC teacher pay and the Yankees payrolr? Quiz # 3A Chapter 4 quiz 935 PMExplanation / Answer
One factor that can explain the difference between huge payroll disparity can be described as follows:
Scarcity of factor has a vital role in determining the value that factor holds in an economy. While it is true that public school teachers touch the lives of many students throughout their career, it is also true that there are thousands of public school teachers in NYC and there is no dearth or scarcity of public school teachers in the market. Labour supply of teachers is very high compared to its demand. However, a Yankees athlete has a special talent that makes him very rare to find. This dedication and talent makes the supply of excellent athletes much lower than the demand for the same , which increases every Yankees’ athlete’s worth that gets reflected in the salary. Moreover, each athlete’s performance determines the level of business its team will do, unlike the performance of teachers, which results in skyrocketing salaries of professional athletes.
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