Term
| Compensation Differenctial |
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Definition
a difference in wages that arises to offset the nonmonetary characteristcs of different jobs
different wages dues to non-money factors |
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Term
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Definition
| the accumulation of investments in people, such as educations and on-the-job training |
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Term
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Definition
communicating to employers/consumer that you are of a higher ability
ex. college degree, advertisments |
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Term
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Definition
| a worker association that bargains with employers over wages and working conditions |
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Term
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Definition
| above-equilibrium wages paid by firms to increase worker productivity |
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Term
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Definition
| the offering of different opportunities to similar indivituals who differ only by race, gender, age, ethnic group, or other personal characteristics |
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