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market equilibrium wage

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  • Market failure — is a concept within economic theory wherein the allocation of goods and services by a free market is not efficient. That is, there exists another conceivable outcome where a market participant may be made better off without making someone else… …   Wikipedia

  • Wage regulation — refers to attempts by a government to regulate wages paid to citizens.Minimum wageMinimum wage regulation attempts to set an hourly, or other periodic monetary standard for pay at work. A recent example was the U.K. National Minimum Wage Act 1998 …   Wikipedia

  • Market clearing — When markets clear, they are priced so that the entire supply is sold. However, retail stores usually restock goods as they are sold. In economics, market clearing refers to either a simplifying assumption made by the new classical school that… …   Wikipedia

  • Market Failure — An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers does not equate to the quantity supplied by suppliers. This is a direct result of a lack of certain economically ideal… …   Investment dictionary

  • wage and salary — ▪ economics Introduction       income derived from human labour. Technically, wages and salaries cover all compensation made to employees for either physical or mental work, but they do not represent the income of the self employed. Labour costs… …   Universalium

  • market — marketer, n. /mahr kit/, n. 1. an open place or a covered building where buyers and sellers convene for the sale of goods; a marketplace: a farmers market. 2. a store for the sale of food: a meat market. 3. a meeting of people for selling and… …   Universalium

  • Market socialism — For the libertarian socialist proposals sometimes described as market socialism , see mutualism (economic theory). For the economic system in People s Republic of China, see socialist market economy …   Wikipedia

  • Market abolitionism — Part of a series on Anarcho Communism …   Wikipedia

  • Minimum wage — A minimum wage is the lowest hourly, daily or monthly remuneration that employers may legally pay to workers. Equivalently, it is the lowest wage at which workers may sell their labour. Although minimum wage laws are in effect in a great many… …   Wikipedia

  • Economic equilibrium — Price of market balance: P price Q quantity of good S supply D demand P0 price of market balance A surplus of demand when P<P0 B surplus of supply when P>P0 In economics, economic equilibrium is a state of the world where economic forces… …   Wikipedia

  • labour-market — In a labour market, human effort (or labour power) is made into a commodity, which is bought and sold under terms which in law are deemed to constitute a contract. The purchase and sale of formally free labour developed extensively with… …   Dictionary of sociology

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