Wage Goods

Wage goods are essential products that workers buy regularly with their earnings, such as food, clothing, and household items. They are considered basic needs that help employees sustain their daily lives. The term also relates to how the cost of wage goods influences workers' pay negotiations and living standards. If prices of wage goods increase, workers may seek higher wages to maintain their purchasing power. Overall, wage goods are fundamental commodities that connect workers' income to their standard of living, serving as a key concept in understanding economic conditions and wage policies.