Examlex
At a canning factory, employees are strictly instructed to wear uniform while working around the canning machines. Which of the following kinds of standing plans is exemplified in this scenario?
Efficiency Wages
Wages set above the market-clearing level by employers to increase worker productivity, discourage turnover, and reduce shirking.
Nutritious Diet
A diet that provides all the essential nutrients in correct proportions for healthy living.
Market Power
The ability of a firm or group of firms to control prices or exclude competition in a market.
Respond Efficiently
The ability of entities or systems to adjust and react promptly and effectively to changes or challenges.
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