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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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FOREIGN SECTOR: The basic macroeconomic sector that includes everyone and everything outside the political boundaries of the domestic economy. This includes households, businesses, and governments in other countries. This is one of four macroeconomic sectors. The other three are household sector, business sector, and government sector. In terms of the circular flow model of the economy, the foreign sector is responsible for net export expenditures on gross domestic product.

     See also | foreign | domestic | net exports | exports | imports | foreign exchange | balance of payments | household sector | business sector | government sector | circular flow | gross domestic product |


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FOREIGN SECTOR, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: January 24, 2022].


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FIRM OBJECTIVES

The standard economic assumption underlying the analysis of firms is profit maximization. Real world firms, however, might not, and many times do not, make decisions based on the profit-maximization objective, or at least exclusively on the profit-maximization objective. Other objectives include: (1) sales maximization, (2) pursuit of personal welfare, and (3) pursuit of social welfare.

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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for the last item on a shelf.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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