Examlex
Under the time and material pricing approach, the company determines one charge for the labor used on a job, another charge for the materials, and then averages the two to apply one charge for everything.
Specialization
A production strategy where a business or country focuses on producing a limited range of goods or services to gain greater degrees of productive efficiency within an overall system.
Collective Discrimination
Discriminatory practices or attitudes shared and enacted by a group towards others, often based on race, gender, or ethnicity.
Wage Rate
The amount of money paid per unit time to an employee for their labor.
Employment
The state of having a paid position of regular work, contributing to an individual's ability to earn income and participate in economic activities.
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