Examlex
Pay ranges for managerial jobs are larger than the ranges for other jobs because these jobs have greater opportunity for both discretion and performance than lower-level jobs.
Nonprice Determinants
Factors that affect demand or supply but are not related to the price of the good or service, such as consumer preferences or production technology.
Technology
The use of scientific understanding to achieve practical goals, particularly within industrial sectors.
Supply Schedule
A chart that illustrates the correlation between a product's price and the amount available for sale.
Inputs Prices
The prices of the resources used in the production process, including labor, raw materials, and capital.
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