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How would an economist explain a teenager's continued unemployment where there exists a minimum wage?
Lean Production
A manufacturing methodology aiming at minimizing waste and maximizing efficiency by using less of everything compared to mass production.
Community Flexibility
The ability of a community to adapt to changes, challenges, or opportunities in its environment.
Employment Flexibility
The adaptability of employment terms and conditions to meet both the employer's and employees' needs, including work hours, job duties, and location of work.
Pay Flexibility
The ability of employers to adjust wages based on market conditions, performance, or other factors.
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