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What Types of Information Are Found in a Typical Industry

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What types of information are found in a typical industry analysis? How can companies use this information?


Definitions:

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or a week.

Hiring Workers

The process of employing individuals to perform tasks or services for a business or organization in exchange for compensation.

Shoe Shine Parlor

A storefront or establishment specializing in the cleaning, conditioning, and polishing of shoes.

Labor Demand Schedule

A chart or graph showing the quantity of labor that employers are willing to hire at different wage levels.

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