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 collection and collation of original data via direct contact with potential or existing customers. It is also called field research.
Answer:
Boiling the cocoon helps to dissolve the adhesive that sticks the fibres together. If cocoon is not boiled, the <u>fibres obtained will be brittle,</u> and we will get fragments of the thread instead of a long continuous silk thread.
Answer:
B) A high literacy rate increases the standard of living.
Explanation:
The literacy rate shows how many people are able to read, write, and comprehend the written material. The literacy rate of the country depends a lot on the standard of living. Those who are not literate can’t peruse high education and find a well-paid job, so they are most likely to live in poverty.
It also prevents the country to have more people working jobs that better the living standard such as professors, doctors, economists, scientists, etc. These jobs are vital to the country's development. If people are not educated, they can’t add up to the growth of the country and its economy. Therefore, <u>the standard of life will be lower when there are more illiterate people, and higher when the literacy rate is high. </u>
Answer:
Psychographic
Explanation:
Psychographic: This is a qualitative method that describes the psychological attributes of consumers. It can be applied in studying values, personality, interests, and attitudes.
Psychographic explain the buyer's hobbies, spending values, and habits. In short, it states why the buyer buys.
Example: Characteristics of the consumer in the market place.
