The given statement is False.
For many years China relied on central planning but is currently moving away from a central market to a free market based economy. This would mean that China's economy is in a state of Transition. This statement is not necessarily True.
Explanation:
Free market is a market structure in which there is a little or no control of the government on supply and demands of the products or services. The structure of this market depends upon the political or legal rules.
If China moved from the central to the free market, it does not mean that is it in the state of Transition. This is because, it could be the choice of China itself to keep a balance between the command and the free market economies, whatever suit its needs.
Learn more about Transition of Chinese Market at:
brainly.com/question/830955
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Answer:
if changed now they'd probably stay the same
Explanation:
people aren't going to buy anything if they don't have enough money to even feed themselves so if wages were lowered, especially minimum wage, that would be pretty bad lol
<span>Lead-the-market pay strategies.
An employer may choose to establish an internal compensation strategy that is in excess of the pay rates in the prevailing marketplace. This compensation strategy may increase the supply of candidates, increase selection rates of qualified applicants, decrease employee turnover, increase morale and productivity, or prevent unionization efforts. However, prior to implementing a lead compensation strategy, an organization should carefully consider what benefits it expects to realize from such a strategy, keeping in mind that this type of structure has the greatest propensity of increasing overall labor costs.</span>
