Labor mobility. In markets, supply is represented by companies while demand is represented by customers. Its not the demand of the product that pays, it is the skill set of the employees that determines the their degree of pay. If you ask yourself why a retail sales person is paid less than a doctor, you will obviously note that the difference in their pay is their skill. Businesses look for profits, and skilled workers drive profitability high hence they get to be paid more than low skilled workers.
In one of the first posts on this blog, I compared Lincoln’s two-minute address with the two-hour oration by Edward Everett on the same occasion. Today the former is universally regarded as one of the most famous speeches in American history; the latter is largely forgotten.
Explanation:
The identities and influences of patrons played a larger role in the production of art.
Answer: this area is the closest to the President physically most of the time.
