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A Fair Wage
Source: Council for Economic Education (EconEdLink) | Type: Lesson
Income for most people is determined by the market value of the productive resources they sell. What workers earn depends, primarily, on the market value of what they produce and how productive they are.
Grades:
Concepts:
- Accounting Loss
- Accounting Profit
- Human Capital
- Human Resources
- Investment
- Labor
- Labor Market
- Prices of Inputs
- Wage
Standards:
- Economics 13: Role of Resources in Determining Income
Related Resources:
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