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Indicate whether each of the following situations would shift the supply curve to the left, to the right, or not at all.
a.an increase in the price of an input
b.an increase in productivity
c.an increase in the price of a substitute in production
d.a decrease in the expected future price of a product
e.a decrease in the current price of the product
Wages
Payments made to workers for their labor, typically calculated on an hourly, daily, or piecework basis.
Union Power
The strength and influence of labor unions in negotiating workers' rights, wages, and working conditions.
Task System
The Task System was a labor system where enslaved people were assigned daily tasks to complete and were allowed some personal time upon the completion of those tasks.
Labor Intensive
Describes industries or processes that require a large amount of labor to produce goods or services, often involving significant human effort and minimal automation.
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