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Goal setting can enhance both intrinsic motivation and extrinsic motivation.
Wage Rate
The standard amount of pay given to employees per unit of time, which may vary based on industry, occupation, and experience.
Competitive Labor Market
A market where workers compete for jobs and employers compete for workers, influencing wages and employment conditions.
Marginal Revenue Product
The increase in revenue generated by employing one more unit of a resource.
Worker
An individual engaged in a physical or intellectual activity with the aim of earning a wage or salary.
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