Examlex
David wants to upload his report to the Internet so he can collaborate with his colleagues. What free online service from Microsoft could he use to do this? How does the service work and what is an advantage of using it?
Substitution Effect
The change in consumption patterns due to a change in the relative prices of goods or services.
Income Effect
How an alteration in the income of an individual or an economy influences the demand for a specific good or service.
Legal Hourly Minimum Wage
The lowest hourly pay that employers are legally allowed to pay their workers, as mandated by government law.
Secondary Labor Market
Employment sectors characterized by low pay, low job security, and poor working conditions, often distinguished from primary sectors which offer better employment conditions.
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