Doctors are professionals, they are not considered "workers" like people who work in retail or factories

True or false?

Explain your answer.

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Expert Solution

Answer:

True. Why?

Workers in factories or retail in most cases do not require a professional degree. For instance, many blue-collared workers in construction industries, furniture and furnishing industry or even in a toothpaste factory do not require to hold a college or a graduate degree, as most of the work they do consists of physical or manual labour. There is a huge supply (excess supply) of these workers as compared to their demand, especially in developing countries like India and Bangladesh. Most of these workers can be hired at low wages and firms can make them work for extra hours as they have little bargaining power. Whereas, doctors require a professional medical degree, with a minimum of 5 years of graduate degree and then doctors have to study for additional years if they want to specialize in a certain field of medicine (surgery, pediatrician etc.) There is an excess demand for doctors as compared to the supply, and doctors are paid higher wages or in some cases they charge higher prices as they have a higher bargaining power.

Rahul Sunny answered 1 year ago

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