Question

What is a key component of economic empowerment related to employment?

• A. Equal pay for equal work
• B. Shorter working hours
• C. Job security guarantees
• D. Preference in hiring

Answer 1

Answer:

A. Equal pay for equal work

Key Component of Economic Empowerment: Equal Pay

• Concept: Equal pay for equal work is a fundamental principle that ensures individuals receive the same remuneration for performing the same or similar job, regardless of gender, race, or other discriminatory factors. This is a cornerstone of economic empowerment, particularly in the context of employment.

• Economic Impact:

  1. Reduces Wage Gap: Directly addresses and aims to eliminate gender and other wage gaps, leading to increased income for marginalized groups.

  2. Boosts Household Income: When all individuals are paid fairly, household incomes rise, contributing to overall economic stability and growth.

  3. Enhances Consumer Spending: Higher and more equitable incomes lead to increased purchasing power, stimulating demand and economic activity.

  4. Promotes Labour Force Participation: Fair wages encourage broader participation in the workforce, utilizing a larger talent pool.