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September 25, 2022 

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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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PRODUCT MARKETS: Markets used to exchange final good or service. Product markets exchange consumer goods purchased by the household sector, capital investment goods purchased by the business sector, and goods purchased by government and foreign sectors. A product market, however, does NOT include the exchange of raw materials, scarce resources, factors of production, or any type of intermediate goods. The total value of goods exchanged in product markets each year is measured by gross domestic product. The demand side of product markets includes consumption expenditures, investment expenditures, government purchases, and net exports. The supply side of product markets is production of the business sector.

     See also | goods | services | circular flow | aggregate market | household sector | business sector | government sector | foreign sector | consumption expenditures | investment expenditures | government purchases | net exports | final good | intermediate good | resources | factors of production | resource markets | factor markets | financial markets | gross domestic product |


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PRODUCT MARKETS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: September 25, 2022].


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INDUCED NET EXPORTS

Net exports by the foreign sector that depend on income or production (especially national income and gross domestic product). That is, changes in income induce changes in net exports. Induced net exports reflect the induced relation between imports and income, which means net exports decline as income increases. They are measured by the negative of the marginal propensity to import (MPM) and are reflected by the negative slope of net exports line. The alternative to induced net exports is autonomous net exports, which do not depend on income.

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Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either several orange mixing bowls or clothing for your pet dog. Be on the lookout for slightly overweight pizza delivery guys.
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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.
"If I'm selecting a group, the first thing I look for is a record of achievement . . . If (candidates achieve) in small things, there's a very good chance they'll perform well in big things. "

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