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Describe three ways to apply Vygotsky's theory to education.
Above-Equilibrium Wage
A wage rate set above the market equilibrium, where the quantity of labor supplied exceeds the quantity of labor demanded, often leading to unemployment.
Cartel
An association of independent businesses organized to control production, pricing, and marketing of goods to restrict competition.
Labor
The human effort, both physical and mental, used in the production of goods and services.
Minimum Wage
The lowest legally permissible hourly wage that employers can pay their workers, intended to protect employees from unduly low pay.
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