Examlex
When a family member enters the family business, he or she is immediately accepted by nonfamily employees due to his/her position.
Total Income
The aggregate amount of money earned or received by an individual or entity from all sources before any deductions.
Equality-Efficiency Trade-Off
The compromise between ensuring an equitable distribution of resources and reaching the highest level of economic efficiency.
Economic Efficiency
A measure of how well resources are allocated to maximize the production of goods and services.
Income Distribution
The way in which total income is divided among the population or different groups within society.
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