March 17, 2018 

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ADVISORY COUNCILS, FEDERAL RESERVE SYSTEM: Three support committees that provide feedback to the Board of Governors of the Federal Reserve System to assist in its assorted regulatory responsibilities, including Federal Advisory Council, Thrift Institutions Advisory Council, and Consumer Advisory Council. The Federal Advisory Council is a broad ranging council comprise of commercial bankers. The Thrift Institutions Advisory Council is comprised of representatives of thrift institutions. The Consumer Advisory Council is comprised of consumer credit representatives.

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UNION: An organization of workers or employees who act jointly to negotiate with their employers over wages, fringe benefits, working conditions, and other facets of employment. The main function of unions is to provide a balance for the market control exerted over labor by big business.

     See also | labor | wage | collective bargaining | lockout | strike | market control | monopsony | factor markets | bilateral monopoly | labor force |

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UNION, AmosWEB GLOSS*arama,, AmosWEB LLC, 2000-2018. [Accessed: March 17, 2018].

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A group of nations that have agreed to eliminate (or at least minimize) trade barriers -- especially tariffs, import quotas, and assorted regulatory non-tariff barriers -- within the group to encourage mutual trade. Free trade areas are usually contiguous or adjacent nations, often located on the same continent. Three noted free trade areas are comprised of nations located in North America, Europe, and Asia.

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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
"If football taught me anything about business, it is that you win the game one play at a time."

-- Fran Tarkenton, Football Player

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