People in the population of working age who are neither employed nor actively looking for paid work. Those working in […]

A sales technique that encourages potential buyers to contact a firm directly with no explicit outreach. An example of this […]

Economic reward or punishment, which influences the benefits and costs of alternative courses of action.

A union, representing many firms and sectors, which takes into account the consequences of wage increases for job creation in […]

The amount of profit, interest, rent, labour earnings, and other payments (including transfers from the government) received, net of taxes […]

The effect that the additional income would have if there were no change in the price or opportunity cost.

The percentage change in demand that would occur in response to a 1% increase in the individual’s income.

Determines the net income/profit of a business. An annual summary of both income and expenses.

A contract that does not specify, in an enforceable way, every aspect of the exchange that affects the interests of […]

It allows employees to complete work faster since tasks are spread out among a group of individuals rather than a […]