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The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6
-A wage differential between skilled and unskilled workers exists because skilled workers have higher marginal products than unskilled workers.
Situational Attribution
The process of attributing a person's behavior to external or situational factors, as opposed to internal dispositions.
Dispositional
Relating to inherent qualities or tendencies of a person's character or temperament.
Social Prescriptions
Norms and expectations that define appropriate behavior for individuals in various social positions and contexts.
Stable
A condition or state that is steady and unchanging, often used to describe an equilibrium in various contexts.
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