Thursday  March 23, 2023
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 LOCKOUT: A plant or factory that is closed temporarily, because it's owners are trying to gain a negotiating advantage over the employees' union. A lockout is commonly used by a company's management if they suspect the union is planning to strike. A lockout by management before the union strikes is much like a pre-emptive military attach that tries to hit the enemy hard, fast, and first.
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 Lesson Contents Unit 1: The Basics Opportunity Cost Cost Times Two Profit Times Three Unit 1 Summary Unit 2: Three Totals Fixed And Variable A Table Of Totals Total Curves TP And TVC Unit 2 Summary Unit 3: Four More Measures Three Averages A Table Of Averages Average Curves One Marginal A Marginal Table The Marginal Curve Unit 3 Summary Unit 4: Long-Run Cost Doing The Long Run A Choice Of Plants Planning Curve Scale Economies Unit 4 Summary Unit 5: Previewing Supply Production Stages Marginal Cost Unit 5 Summary Course Home
Cost

• The first unit of this lesson, The Basics, begins this our study with a review of the opportunity cost notion and how it relates to business activity.
• In the second unit, Three Totals, we take a look at the three total cost measures, including total cost, total variable cost, and total fixed cost.
• The third unit, Four More Measures, then presents four additional cost measures -- average total cost, average variable cost, average fixed cost, and marginal cost.
• In the fourth unit, Long-Run Cost, we examine how scale economies and diseconomies affect cost in the long run.
• The fifth and final unit, Previewing Supply, then closes this lesson by previewing the importance of cost, especially marginal cost, to the supply decision by a firm.

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NEGOTIABLE ORDER OF WITHDRAWAL ACCOUNTS

Interest-paying checking accounts maintained by commercial banks, savings and loan associations, and mutual savings banks. These function much like standard demand deposit checking accounts in that the funds can be withdrawn "on demand" by writing a check, but an interest is paid on the outstanding balance. Negotiable order of withdrawal (NOW) accounts are one type of checkable deposits. Others are demand deposits (standard checking accounts), share draft accounts, and automatic transfer service (ATS) accounts.

 BROWN PRAGMATOX[What's This?] Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for cardboard boxes.Your Complete Scope
 A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
 "It is not the straining for great things that is most effective; it is the doing of the little things, the common duties, a little better and better."-- Elizabeth Stuart Phelps, Writer