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Why are least productive workers in a work group within a firm typically paid more than the value of what they produce while the most productive workers are paid less?

Least productive workers may be paid more than the value they produce due to factors such as labor market dynamics, minimum wage regulations, or union agreements that set pay scales regardless of individual output. Additionally, firms often prioritize employee retention and morale, leading them to offer higher wages to less productive workers to maintain overall harmony. Conversely, the most productive workers may receive lower relative pay because their high output can be undervalued in competitive environments, or firms may assume their productivity is a baseline expectation rather than an exceptional contribution.


Is when union and company officials meet to discuss the terms of the workers new contract?

Collective Bargaining :)


What are the advantages and disadvantages of specialisation?

More productive, efficient, produces more in less time. better quality products. encourage trade dis: work becomes repetitive, workers feel alienated from business, feel boring and has no incentive to work. specialisation makes labour less mobile and coutries dependent


In the system workers are most productive and Nations economies functions most effectively when people and businesses can pursue their economic interest privately?

Conservation


In this system workers are most productive and a nation's economy functions most efficiently when people and businesses can pursue their economic interests privately?

laissez faire