Examlex
What is a micelle?
Non-Unionized Industries
Sectors of the economy where the workforce is not part of a labor union or covered by a collective bargaining agreement.
Recession
A phase of short-term economic downturn marked by decreased business and manufacturing operations, typically recognized by a decline in Gross Domestic Product for two consecutive quarters.
Efficiency-Wage Theory
The concept that employers may pay a higher wage than the market equilibrium to increase worker productivity, loyalty, and satisfaction, thereby reducing turnover and shirking.
Labor Unions
Organizations that represent workers in negotiations with employers over wages, working conditions, and benefits to protect their rights and interests.
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