Examlex
List five ways that design quality can be improved.
Income Effect
The income effect describes how changes in consumer income influence purchasing decisions, typically leading to increased spending with higher income.
Wages Increase
An upward adjustment in the amount of compensation workers receive for their labor, influencing purchasing power and cost of living.
Labor Supplied
The total hours that workers are willing to work at a given wage rate, within a specified period.
Social Security
A government program that provides financial assistance to individuals during retirement, disability, or upon the death of a primary wage earner.
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