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Reservation Wage
In labor economics, the reservation wage is the lowest wage rate at which a worker would be willing to accept a particular type of job. This wage is a theoretical representation of the hourly rate at which an individual values their own leisure time. A job offer involving the same type of work and the same working conditions, but at a lower wage rate, would be rejected by the worker. In this case, based on the reservation wage theory, the individual would be better off not working as they value their leisure at a higher rate than the wage they would receive for working. An individual's reservation wage may change over time depending on a number of micro and macro-economic factors, like changes in the individual's overall wealth, changes in marital status or living arrangements, length of unemployment, and health and disability issues. For example, an individual who has high household production activities may have a higher reservation wage, as the wage must exceed the benefit o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reservation Wage Wikipedia
__NOTOC__ Reservation may refer to: Places Types of places: * Indian reservation, in the United States * Military base, often called reservations * Nature reserve Government and law * Reservation (law), a caveat to a treaty * Reservation in India, a government policy imposing quotas for political representation * Disallowance and reservation, a constitutional power in several Commonwealth nations Arts, entertainment, and media * ''Reservation'' (mixtape), a mixtape by Angel Haze * "Reservations", a song by Spoon from their album ''A Series of Sneaks'' * "Reservations", a song by Wilco from their album ''Yankee Hotel Foxtrot'' Other uses * Reserved sacrament or Reservation of the Sacrament, a Christian religious practice *Table reservation, for restaurant seating *Computer reservation system, for travel and accommodations See also * Reserve (other) * Indian reserve In Canada, an Indian reserve (french: réserve indienne) is specified by the '' Indian Act'' as a "t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Google Books
Google Books (previously known as Google Book Search, Google Print, and by its code-name Project Ocean) is a service from Google Inc. that searches the full text of books and magazines that Google has scanned, converted to text using optical character recognition (OCR), and stored in its digital database.The basic Google book link is found at: https://books.google.com/ . The "advanced" interface allowing more specific searches is found at: https://books.google.com/advanced_book_search Books are provided either by publishers and authors through the Google Books Partner Program, or by Google's library partners through the Library Project. Additionally, Google has partnered with a number of magazine publishers to digitize their archives. The Publisher Program was first known as Google Print when it was introduced at the Frankfurt Book Fair in October 2004. The Google Books Library Project, which scans works in the collections of library partners and adds them to the digital invent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for Work (human activity), work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). Unemployment can have many sources, such as the following: * new technology, technologies and inventions * the status of the economy, which can be influenced by a recession * competition caused by globalization and international trade * Policy, policies of the government * regulation and market (economics), market Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can influ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compensating Differential
Wage differential is a term used in labour economics to analyze the relation between the wage rate and the unpleasantness, risk, or other undesirable attributes of a particular job. A compensating differential, which is also called a compensating wage differential or an equalizing difference, is defined as the additional amount of income that a given worker must be offered in order to motivate them to accept a given undesirable job, relative to other jobs that worker could perform. One can also speak of the compensating differential for an especially desirable job, or one that provides special benefits, but in this case the differential would be ''negative'': that is, a given worker would be willing to accept a ''lower'' wage for an especially desirable job, relative to other jobs. The idea of compensating differentials has been used to analyze issues such as the risk of future unemployment, the risk of injury, the risk of unsafe intercourse, the monetary value workers place on thei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Search Theory
In microeconomics, search theory studies buyers or sellers who cannot instantly find a trading partner, and must therefore search for a partner prior to transacting. Search theory clarifies how buyers and sellers choose when to acknowledge a coordinating offer for a transaction. Search theory also provides an explanation for why frictional unemployment happens as people look for jobs and corporations look for new employees. Search theory has been used primarily to explain labor market inefficiencies, but also for all forms of "buyers" and "sellers", whether products, homes or even spouses/partners. It can be applied. The clearing price will be met quickly as supply and demand react freely. However, this does not happen in the real world. Search theory tries to explain how. Search theory has been applied in labor economics to analyze frictional unemployment resulting from job hunting by workers. In consumer theory, it has been applied to analyze purchasing decisions. From a wor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reservation Price
In economics, a reservation (or reserve) price is a limit on the price of a good or a service. On the demand side, it is the highest price that a buyer is willing to pay; on the supply side, it is the lowest price a seller is willing to accept for a good or service. Reservation prices are commonly used in auctions, but the concept is extended beyond. A party's best alternative to a negotiated agreement (BATNA) is closely related to their reservation price. Once a party determines their BATNA, they can then calculate their reservation price. In negotiations surrounding the price of a particular good or service, the reservation price is a singular number. However, this is not the only situation in which reservation prices are seen. When multiple issues are being discussed, such as the size of salary and amount of benefits when applying for a new job position, the reservation price would be represented as a package where multiple requirements need to be met. Description In mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Search Theory
In microeconomics, search theory studies buyers or sellers who cannot instantly find a trading partner, and must therefore search for a partner prior to transacting. Search theory clarifies how buyers and sellers choose when to acknowledge a coordinating offer for a transaction. Search theory also provides an explanation for why frictional unemployment happens as people look for jobs and corporations look for new employees. Search theory has been used primarily to explain labor market inefficiencies, but also for all forms of "buyers" and "sellers", whether products, homes or even spouses/partners. It can be applied. The clearing price will be met quickly as supply and demand react freely. However, this does not happen in the real world. Search theory tries to explain how. Search theory has been applied in labor economics to analyze frictional unemployment resulting from job hunting by workers. In consumer theory, it has been applied to analyze purchasing decisions. From a wor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Job Hunting
Job hunting, job seeking, or job searching is the act of looking for employment, due to unemployment, underemployment, discontent with a current position, or a desire for a better position. The immediate goal of job seeking is usually to obtain a job interview with an employer which may lead to getting hired. The job hunter or seeker typically first looks for job vacancies or employment opportunities. Steps Locating jobs Common methods of job hunting are: * Finding a job through a friend or an extended business network, personal network, or social media * Using an employment website * Job listing search engines * Looking through the classifieds in newspapers * Using a private or public employment agency or recruiter * Looking on a company's web site for open jobs, typically in its applicant tracking system * Going to a job fair * Using professional guidance such as outplacement services that give training in writing a résumé, applying for jobs and how to be successful at ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Economics Topics
The following outline is provided as an overview of and topical guide to economics: Economics – analyzes the production, distribution, and consumption of goods and services. It aims to explain how economies work and how economic agents interact. Description of economics Economics can be described as all of the following: * Academic discipline – body of knowledge given to, or received by, a disciple (student); a branch or sphere of knowledge, or field of study, that an individual has chosen to specialize in. * Field of science – widely recognized category of specialized expertise within science, and typically embodies its own terminology and nomenclature. Such a field will usually be represented by one or more scientific journals, where peer-reviewed research is published. There are many economics-related scientific journals. * Social science – field of academic scholarship that explores aspects of human society. Branches of economics * Macroec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marriage In Islam
In Islam, nikah is a contract between two people. Both the groom and the bride are to consent to the marriage of their own free wills. A formal, binding contract – verbal or on paper – is considered integral to a religiously valid Islamic marriage, and outlines the rights and responsibilities of the groom and bride. Divorce in Islam can take a variety of forms, some executed by a husband personally and some executed by a religious court on behalf of a plaintiff wife who is successful in her legal divorce petition for valid cause. In addition to the usual marriage until death or divorce, there is a different fixed-term marriage known as ("temporary marriage") permitted only by the Twelver branch of Shi'ite for a pre-fixed period.Berg, H"Method and theory in the study of Islamic origins" Brill 2003 , 9789004126022. Accessed at Google Books 15 March 2014.Hughes, T"A Dictionary of Islam." Asian Educational Services 1 December 1995. Accessed 15 April 2014.Pohl, F"Muslim world ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
