Examlex
DutiLog Inc.is a company that specializes in providing warehouse space and transportation solutions to a diverse group of firms.Given this information,DutiLog Inc.is an example of a third-party logistics company.
Recession
A phase of short-term economic downturn marked by decreased business and manufacturing operations, typically recognized by a decline in Gross Domestic Product for two consecutive quarters.
Efficiency-Wage Theory
The concept that employers may pay a higher wage than the market equilibrium to increase worker productivity, loyalty, and satisfaction, thereby reducing turnover and shirking.
Labor Unions
Organizations that represent workers in negotiations with employers over wages, working conditions, and benefits to protect their rights and interests.
Efficiency Wage
A theory stating employers pay a wage that is higher than the market equilibrium to increase worker productivity and efficiency.
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