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March 7, 2021 

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BUSINESS SECTOR: The basic macroeconomic sector containing the private, profit-seeking firms in the economy that combine scarce resources into the production of wants-and-needs satisfying goods and services. The key economic function of the business sector is the production of goods and services. The three basic types of business organizations that comprise the business sector are proprietorship, partnership, and corporation. This is one of the four macroeconomic sectors. The other three are household sector, government sector, and foreign sector. You might want to check out the key role that the business sector plays in the circular flow.

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FOURTH ESTATE: The journalist, reporters, and other media representatives who keep a watchful eye on the evil-doings of the first and second estates and hopefully provide valuable information to the consumers, workers, and taxpayers of the third estate. However, in that news and journalism has become, along with other businesses, a mega-gadzillion dollar industry, many fourth estate watchdogs have become card-carrying members of the second estate (and some even the first estate). As such, some journalists are more concerned with protecting and promoting business and government interests than consumer interests.

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FOURTH ESTATE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: March 7, 2021].


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CAUSE AND EFFECT

The notion that every event in the universe is the direct result of a preceding event, that one event A causes another event B. The purpose of the scientific method is to identify these cause-and-effect relations. This pursuit is based on a simple point of view: everything happens for a reason. For every action there is a consequence. And for every consequence there is a cause.

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Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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