I. 🍃Introduction
- Explanation of the topic
- Importance of understanding the factors that affect wages

II. Increase in demand for goods and services
- Explanation of how an increase in demand leads to an increase in demand for workers
- Derived demand and its impact on wages

III. Increase in inflation
- Explanation of how workers demand higher wages in response to inflation
- Impact of inflation on the economy

IV. Trade union bargaining power
- Explanation of how trade unions can influence wages through collective bargaining
- Examples of how trade unions use their bargaining power

V. Increased productivity of workers
- Explanation of how increased productivity leads to an increase in demand for labour
- Impact of productivity on wages

VI. Reduction in income tax
- Explanation of how a reduction in income tax leads to an increase in disposable incomes
- Impact of disposable incomes on wages

VII. Legal minimum wage increases
- Explanation of how an increase in the legal minimum wage leads to an increase in wages for the lowest paid workers
- Impact of minimum wage increases on the average wage

VIII. 👉Conclusion
- Summary of the factors that affect wages
- Importance of considering these factors in policy-making and decision-making.