Examlex
Assumptions can simplify the complex world and make it easier to understand.
Surplus Of Labor
An excess supply of labor in the job market, where the number of workers seeking employment exceeds the number of job vacancies.
Surplus Of Workers
A situation in the labor market where the number of individuals looking for employment exceeds the number of available jobs, often leading to higher unemployment rates.
Signaling Theory
A theoretical framework that explains how individuals or entities use certain signals or indicators to show their desirable qualities in various markets, including job and education markets.
Human-Capital Theory
An economic framework that suggests the accumulation of education, training, and health can improve workers' productivity and thus the economic output of a nation.
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