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Question
Give examples to illustrate the difference between time wage and piece wage.
Distinguish Between
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Solution
| Basis | Time Wage System | Piece Wage System |
| Meaning | Wages are paid based on the amount of time worked. | Wages are paid based on the number of units produced. |
| Focus | Emphasis is on time spent on the job. | Emphasis is on output or quantity of work done. |
| Wage Calculation | Wage = Time worked × Rate per hour/day | Wage = Units produced × Rate per unit |
| Example: | A worker is paid ₹ 100 per day. If they work 30 days, they earn ₹ 3,000. | A worker is paid ₹ 10 per piece. If they make 300 pieces, they earn ₹ 3,000. |
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