Examlex
Which of the following economists believed that the factory owner,by paying his workers meager wages,was able to use this surplus to buy more capital goods?
Convey Love
To express feelings of love or affection towards someone through actions or words.
Asymmetric Information
A circumstance in which one party involved in an exchange has more or better information compared to the other party.
Hidden Action
A concept in economics and game theory where one party's action is not observed or cannot be monitored by the other involved party.
Hidden Characteristic
In economics and contract theory, a hidden characteristic refers to information about a product, service, or individual that is not known beforehand by one of the parties in a transaction, potentially leading to problems like adverse selection.
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