Examlex
What are Prahalad's "12 Principles of BOP Innovation"?
Binding Minimum Wage
A set wage minimum by the government that is above the equilibrium wage, leading to potential excess supply of labor, or unemployment.
Surplus Of Labor
A situation where the supply of labor exceeds the demand for labor, leading to unemployment or underemployment.
Minimum Wage
The lowest wage per hour that employers can legally pay their employees, as set by law or agreement.
Adverse Effects
Negative and potentially harmful outcomes or reactions caused by a procedure, policy, or product.
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