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July 18, 2025 

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ABSOLUTE ADVANTAGE: The general ability to produced more goods using fewer resources. This idea of absolute advantage is important for trading that occurs between both people and nations. A nation can get an absolute advantage from an advanced level of technology or higher quality resources. For a person, an absolute advantage can result from natural abilities or the acquisition of human capital (education, training, or experience).

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STRIKE: An agreement of workers, usually the members of a union, to stop working. The objective of a strike is to encourage an employer to raise workers' wages or to improve working conditions. Strikes can be a powerful tool for unions to overcome the market control of employers or to gain a negotiating edge in collective bargaining. They can also create frustrating production bottlenecks that are ultimately suffered by underappreciated consumers.

     See also | union | market control | collective bargaining | lockout | boycott | arbitration | mediation | wildcat strike | sympathy strike | general strike | labor slowdown |


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STRIKE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].


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POLITICAL VIEWS

Alternative perspectives of the proper role that government should play in the economy, with conservatives on the right, liberals on the left, and moderates in the middle. Libertarians show up to the right of conservatives and socialists (including Marxists and communists) are to the left of liberals.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for rusty deck screws.
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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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