Difference in Risk Jobs that have a higher probability of injury or death pay more. Geographic Differences People have an incentive to sell their labor in a market where they can earn the most. Job Discrimination Your sex or race may cause you to earn more or less. This is illegal, but it can happen. It is a skill difficult to teach and difficult to measure.
Entrepreneurs are their own bosses.
There is no market for their kind of ability. Economic profit is the reward for the entrepreneur. In the 1860 s, a typical work day was 11 hours long and the average work week was 6 days. In some industries, like steel, the day was 12 hours long and the week was 7 days. All laborers worked in very harsh conditions.