Efficiency wages may cause a <u>surplus</u> of labor because they are <u>above</u> the equilibrium wage.
The efficiency wage is higher than the equilibrium wage, which might result in a labor supply.
Since the efficiency wage in question is higher than equilibrium wages, there will be a labor surplus since more individuals will be eager to work as a result of the wage rise. Due to the fact that supply is more than demand, this will result in a rise in supply and an excess of labor.
There is a labor surplus in the sense that a sizeable segment of the work force produces less than it consumes and its marginal product is below the wage agreed upon via negotiation.
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The Phoenician geography made them rely on imports and exports because of they lack in farmland and their close proximity to the Mediterranean.
The Phoenicians subsisted on a narrow strip of the Syrian coast. This land consists of highlands and mountains with a munificence of forests. However, it lacks the productive land which would have made large-scale cultivation possible.
Due to the inadequate size of their territory, the Phoenicians relied on the sea and commerce to sustain their living. The lack of sufficient farmland drove the Phoenicians to turn to the sea and became navigators and traders, which resulted in their establishing many colonies. They traded silver, lead, horses, ebony, iron, tin, ivory, and precious stones.
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the answer in high school is it served common man but im not really sure if helps im sorry :(
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