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January 21, 2019 

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NATURAL UNEMPLOYMENT: The combination of frictional and structural unemployment that persists in an efficient, expanding economy when labor and resource markets are in equilibrium. Natural unemployment exists when the economy is at full employment, which for practical purposes is defined as the condition in which the quantity of resources demanded is equal to the quantity of resources supplied. Most important for policy purposes, natural employment exists with stable prices, that is, no inflation.

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SUPPLY TO A FIRM: The range of quantities of a factor that a firm is able to buy at a range of factor prices. Supply to a firm is a phrase that's most relevant to the study of factor markets, especially when contrasted with supply by a firm. Supply to a firm puts the firm on the buying side of the factor market. Supply by a firm puts the firm on the selling side of the factor market.

     See also | supply | factor markets | supply by a firm | circular flow | factors of production |


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SUPPLY TO A FIRM, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: January 21, 2019].


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SECOND ESTATE

Another term for the business sector. This is one of four divisions of society based on economic function. The other three are government as the first estate, consumers as the third estate, and journalists as the fourth estate.

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Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for celebrities who speak directly to you through your television.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
"The more you praise and celebrate your life, the more there is in life to celebrate."

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Tokyo Commodity Exchange (Japan)
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