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DISCOURAGED WORKERS: People who are willing and able to engage in productive activities, but due to their overwhelming lack of success have stopped seeking employment. Discouraged workers believe that any effort to find a job will be fruitless. Discouraged workers fall within the broader category of marginally-attached workers, people who are willing and able to work, who have either held a job or searched for employment within the last year, but are not actively seeking employment. People are marginally attached to the labor force for a variety of reasons, discouraged workers achieve their designation because they believe search efforts would not be worthwhile.

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PRICE FLOOR: A legally established minimum price. Pressured by special interest groups, our beloved government is often convinced that the price of a good needs to be kept at a higher level. Examples of goods that have had price floors bestowed upon them include farm products and workers. The argument in both of these examples is that suppliers aren't getting enough income for the stuff they sell (food or labor). A higher price is then expected to generate more income to these deserving souls. Unfortunately, price floors tend to create as many or more problems than they solve. They create inefficient surpluses.

     See also | market | price | regulation | surplus | minimum wage | price ceiling | minimum wage |


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PRICE FLOOR, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: January 20, 2020].


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CAPITAL

The manufactured, artificial, or synthetic goods used in the production of other goods, making capital the "produced" factor of production. This is one of four basic categories of resources, or factors of production. The other three are labor, land, and entrepreneurship. Capital makes labor more productive.

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