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In addition to evicting a lessee, a lessor may:
Dual Labor Market Theory
An economic theory that suggests the labor market is divided into two segments: the primary market, with secure, well-paid jobs, and the secondary market, characterized by low pay, job insecurity, and little room for advancement.
Backward-Bending
Refers to the backward-bending supply curve of labor, indicating that at some point, higher wages lead to a decrease in the labor supply.
Labor Supply Curve
A graphical representation showing the relationship between the wages offered and the quantity of labor that workers are willing to supply.
Minimum Wage
The lowest legal wage that employers can pay their employees, established by government law.
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