Wages are the money that workers earn in exchange for their labor. This payment can be hourly, weekly, or monthly, depending on the job and agreement between the employer and employee. Wages are important because they help individuals and families meet their daily needs, such as food, housing, and education. Different jobs have different wage levels, influenced by factors like experience, education, and the demand for certain skills. For example, a teacher may earn a different wage than a software engineer due to the varying levels of expertise and market demand in their respective fields.