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NET INCOME: A common term for profit, as the difference between total revenue and total cost. When used in the real world of business wheeling and dealing, this notion of net income general refers to accounting profit rather than economic profit. The "net" aspect of net income indicates that some (that something being cost) is deducted from total or "gross" income. Other common terms used in this same context are net revenue and net earnings.

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CONTRIBUTIVE STANDARD: One of three basic income distribution standards (the other two are equality standard and needs standard). The contributive standard distributes income based on a person's contribution to production. This standard answers the For Whom? question of allocation primarily through the use of prices and markets. The resources used to produce goods that more highly valued society (meaning they better satisfy unlimited wants and needs) command higher prices and thus generate more income to their owners. An actor, for example, who can attract millions of adoring. $7-a-ticket fans to one performance of an action-packed, blockbuster movie produces a good that is more highly valued by society than a philosophy professor who spends all semester teaching a handful of reluctant, $100-a-credit-hour students the finer details of existentialism.

     See also | income distribution | income | distribution standards | needs standard | equality standard | three questions of allocation | efficiency | incentive | value | marginal productivity theory | For Whom? |


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CONTRIBUTIVE STANDARD, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: October 23, 2018].


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LABOR FORCE PARTICIPATION RATE

The proportion of the total noninstitutionalized civilian population 16 years of age and over that is in the civilian labor force. The labor force participation rate is essentially the ratio of the civilian labor force to the total noninstitutionalized civilian population 16 years of age and over. The data used to estimated the labor force participation rate is obtained along with other labor force data from the monthly Current Population Survey conducted by the Bureau of the Census for the Bureau of Labor Statistics. Labor force participation rates are also commonly calculated using data derived from the Census of the Population.

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Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for fairy dust that tastes like salt.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"When we do the best we can, we never know what miracle is wrought in our life or in the life of another. "

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