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The Market System Is Also Called the Price System Because

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The market system is also called the price system because


Definitions:

Motivator

A factor that stimulates an individual to act in a certain way or pursue a particular goal, often leading to enhanced performance or behavior.

Restriction of Productivity

Limitations or constraints that decrease the efficiency or output of a process, system, or individual's work.

Piece Rate Pay

A compensation system where employees are paid based on the amount of work they complete rather than the hours worked.

Hourly Wage

Compensation paid to an employee based on the number of hours worked.

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