Examlex
Explain what is involved in starting a business as a sole proprietor and the advantages to choosing this form of ownership.
Human Capital
The capabilities, understanding, and expertise held by a person or group, considered in light of their worth or expense to a company or nation.
Wage Disparity
The difference in earnings between two or more groups within a workforce, often based on gender, race, occupation, or education level, that can lead to inequality.
Median Earnings
The middle value of earnings in a given distribution, with an equal number of persons earning more and less than this value.
Efficiency-wage Model
A theory suggesting that higher wages can lead to increased productivity by attracting better workers and motivating them to work harder.
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