| A | B |
|---|
| Elasticity of supply | Rate or degree to which an increase in wages will result in additional workers |
| Exchange rate | Establishes the ratio of one currency to another |
| Free trade | Labor that is considered to be the most important component of national wealth |
| International trade | Increases a nation’s consumption possibility curve |
| Market | Exists when individuals who want something interact with individuals who have the same thing to offer |
| Positive cash flow | Social security taxes paid in exceed benefits paid out |
| Primary labor market | Occupations that offer full-time employment with benefits, opportunity for advancement, and some degree of security |
| Secondary labor market | Occupations that are primarily low skills/low wage with little opportunity for advancement, less than 40 hours per week employment, and few or no benefits |
| Work ethics | Work habits, such as behavior, dress, speech, and values |
| Workforce education | Created to equate supply and demand by affecting the supply of labor |
