Examlex
Discuss the impact of efficiency wages on unemployment and wage inflexibility.
Desperation
A state of feeling or showing hopelessness and urgency, often leading to hasty decisions or actions.
Environmental Uncertainty
The extent to which an organization lacks predictable and actionable information regarding its external environment, affecting decision-making and strategy.
External Environment
All the outside factors and forces that can affect an organization's performance, including economic, social, technological, legal, and political elements.
Complete Information
A situation where all participants have access to all relevant data and knowledge needed to make informed decisions.
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