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HIERARCHY OF NEEDS: Developed by Abraham Maslow, the notion that people are motivated to satisfy basic physiological needs (food, shelter, etc.) before moving on to satisfying higher psychological needs (security, companionship, etc.). These alternative needs are layered in a hierarchial pattern with physiological needs on the bottom, safety needs on the second layer, belonging needs on the third layer, esteem needs on the fourth layer, and self-actualization needs at the top. This hierarchy of needs has been used to help explain the progress of human societies from agrarian to manufacturing to service to information.
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Lesson 10: Gross Domestic Product | Unit 4: Measuring Income
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Page: 19 of 25
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Personal income (PI) is the second income measure.- Personal Income is income RECEIVED by households.
- Compare this with national income which is income earned by the factors of production.
These two income measures are similar, but not exactly the same.- Some income earned by the factors of production is not received by the household sector. Let's call it IEBNR.
- Some income received by the household sector is not earned by a factor of production. Let's call it IRBNE.
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UNEMPLOYED PERSONS People who are NOT actively engaged in the production of goods and services, but ARE actively seeking employment in the production of goods and services. This is one of three official categories used to classify individuals by the Bureau of Labor Statistics (BLS) based on information obtained from the Current Population Survey. The other two categories are employed persons and not in the labor force. The sum of employed persons and unemployed persons constitute the civilian labor force.
Complete Entry | Visit the WEB*pedia |
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a pair of gray heavy duty boot socks or a 50-foot blue garden hose. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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ICCH
International Commodities Clearing House
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