Costs to produce milk differs significantly â the range is from 4 to 128 US-$ per 100 kg milk. From 2000 â 2012, cost of milk production increased in all countries analysed. Cost of milk production in China is estimated 50% above the level in US and Germany.
Definition of Wages: Wages are remuneration paid to labor in return for the services rendered. Benham has defined the term wages in a restricted sense. According to him, a wage may be defined as a sum of money paid under contract by an employer to a worker in exchange for service rendered.
Capitalism is an economic and social system in which participants privately own the means of production -- called capital.Free market competition, not a central government or regulating body, dictates production levels and prices.ow it works/Example: Under capitalism, prices and wages are determined by the forces of supply and demand. Members of a capitalist economy are driven to obtain the maximum amount of utility (benefit or  profit ) at the least cost.