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MACROECONOMIC TIME SERIES AFFECTING THE MINIMUM AND AVERAGE WAGES OF V4 COUNTRIES

Lucie Meixnerová, Michal Krajňák

The minimum wage institute was established at the turn of the 19th and 20th century in the Anglo-Saxon countries. Its purpose was to ensure the protection of the workforce. The minimum wage ensures that the labour market wage cannot fall below the determined level, which takes the form in accordance with the economic and political conditions of the country concerned (Dube et al., 2010). The determined level of the minimum wage results either from the tripartite act, which is made up of representatives of government, employers and trade unions or is enacted in relation to a percentage of the average wage level. Lopresti and Mumford (2016) mention that setting a minimum wage is a very complex problem, as its value is related to the price of labour that affects employers’ competitiveness. The minimum wage affects not only the part of the employer but also the employee, as employees want to receive fair remuneration for their work that will ensure them the required standard of living.
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PRICING OF THE TOURISM PRODUCT: A TOOL FOR ENTREPRENEURS TO ADAPT TO A FLEXIBLE MARKET

Anuţa Buiga, Roxana Stegerean, Alexandru Chiş, Dorina Lazăr

During the last decades, the tourism industry from Central and Eastern European countries has gained an increasing importance. Because of the diversity of businesses and activities inside this sector, the tourism can be considered an effective engine for emerging sectors and for economy. Furthermore, due to its diverse, beautiful nature and valuable historical and cultural inheritance we consider that the tourism sector has growth potential, high efficiency and thus, opportunities for significant contributions both to national GDP and added value.
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FINANCIAL IMPACT IN CASE OF INVESTMENT TO THE FOREST PROPERTY AS A RESULT OF DIFFERENT TREE SPECIES COMPOSITION IN THE CZECH REPUBLIC

Pavlína Köhler, Vlastimil Vala

The total area of forestland in the Czech Republic is about 2,593,923 ha, of which state owns 60.32%, 19.44% is owned by natural person, and 16.39% is owned by municipalities and the rest is owned by others legal bodies.
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