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LABOR SLOWDOWN: A technique used by workers, generally labor union members, who reduce their productivity in an attempt to achieve a particular goal or objective. The goal pursued tends to be relatively minor, such as better lighting, and thus not worth engaging in a formal strike.

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Lesson 17: Money | Unit 1: Money Basics Page: 1 of 25

Topic: What It Is <=PAGE BACK | PAGE NEXT=>

Money can be just about anything.

Two points:

  1. The 'thing' part: Money is an asset, something of value. In modern world we use paper currency, coins or checks.
  2. The 'any' part: Anything can function as money. What money is, is less important than what money does.

Money is something that can be readily traded for valuable assets.

A definition:

  • Money is anything that is generally accepted in exchange for goods and services.
  • Money can be pieces of paper, metal coins, bank accounts, animal skins, shiny trinkets, or anything as long as it is generally accepted by society as payment.

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EMPLOYMENT-POPULATION RATIO

The ratio of employed persons to the total civilian noninstitutionalized population 16 years old or older. Also termed the employment rate, the employment-population ratio is used as an alternative to the unemployment rate as an indicator of the utilization of labor resources.

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APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?

In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"There is no point at which you can say, „Well, I'm successful now. I might as well take a nap.¾"

-- Carrie Fisher, actress, writer

JEMS
Journal of Economics and Management Strategy
A PEDestrian's Guide
Xtra Credit
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