Describe Three Specific Dimensions or Sub-Categories of the Follower Element

question 1

Short Answer

Describe three specific dimensions or sub-categories of the follower element of the interactional framework.

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Definitions:

Supply of Labor

The total amount of labor, in terms of hours or the number of workers, that is available for employment in the economy at a given wage rate.

Opportunities

Situations where it's possible to perform an action that could lead to an improvement in one's situation.

Rational Employers

Employers who make hiring and firing decisions based on the optimization of productivity and cost-effectiveness.

Margin

The difference between the selling price of a product and the cost of producing it, often expressed as a percentage of the selling price.