Examlex
The fermentation process to form an ale requires a different species than those used in making lagers.
Labor Surplus
A situation in the labor market where the supply of labor exceeds the demand for labor, often leading to unemployment.
Structural Unemployment
An unemployment scenario where there's an incongruence between the skillsets provided by the labor market and those needed by employers.
Efficiency Wages
Wages that are deliberately set above the market equilibrium to increase productivity by attracting better applicants, reducing turnover, or increasing worker effort.
Equilibrium Level
The state in which market supply and demand balance each other, and as a result, prices become stable.
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