Examlex
Empathy involves not only being in tune with how clients feel but also conveying to them that workers understand how they feel.
Efficiency-wage Model
A theory suggesting that higher wages can lead to increased productivity by attracting better workers and motivating them to work harder.
Marginal Productivity
The additional output generated by employing one more unit of a particular input, holding other inputs constant.
Diminishing-returns Theory
The principle that says that if one factor of production is increased while others are held constant, the incremental output will eventually decrease.
Wage Disparity
The difference in wages earned by different groups of workers, often arising from factors such as occupation, education, experience, or gender.
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