Henry Ford's $5 per day wage is an example of:

Name: Henry Ford's $5 per day wage is an example of:
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Henry Ford's $5 per day wage was an efficiency wage. An efficiency wage is a higher-than-market wage offered by firms to increase worker productivity and reduce turnovers. Ford believed that by paying his workers more than what competitors offered, they would be able to buy the cars they were producing, creating a ready market for the company's goods.

Henry Ford's $5 Per Day Wage Is an Example Of