Examlex
Based on the job enrichment theory,an employee or work group should be given a natural and complete unit of work.This is opposite to the practice of specialization of labor that has dominated the structure of most organizations in the last 100 years.
Higher Wage
A wage level that is above the average or norm, often reflective of high skill levels, demand for specific labor, or union negotiations.
Income Effect
The change in the quantity of a good consumed that results from the change in a consumer’s purchasing power due to the change in the price of the good.
Substitution Effect
The adjustment in consumer behavior because of shifts in the prices of goods relative to each other, causing consumers to choose different goods over previously preferred ones.
Normal Good
A good whose demand increases as consumer income increases, demonstrating how economic well-being influences consumer choices.
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