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What are the two types of objective controls that managers use?
Labor Force
consists of all the people who are of working age, able and willing to work, and actively seeking employment or are currently employed.
Cost of Living
The financial requirement to maintain a specific lifestyle, covering essential costs like accommodation, nutrition, taxes, and medical care.
Adjustment Agreement
A contract or understanding that allows for modifications to be made to the terms of an agreement or deal, adapting to new conditions or information.
COLA
Cost of Living Adjustment, an increase in income to keep up with living expenses, often applied to salaries and benefits to offset inflation.
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