Examlex
The attractive power of pay and benefits as a reward to motivate workers is strong from recruitment to retirement,declines over time,and is typically only strong during the early phases of a career.
Prices
The sum of money needed to buy a product or service.
Efficient Allocation
The optimal distribution of resources in an economy, where resources are utilized in a manner that maximizes societal welfare without any wastage.
Rival in Consumption
A characteristic of a good whereby one person's consumption reduces the availability of the good for another person.
Rival in Consumption
A characteristic of a good whereby its consumption by one individual prevents simultaneous consumption by other individuals.
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