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COLLECTIVE BARGAINING: The negotiation process between a union and the company that employs the union's members -- usually going by the moniker of management. The purpose of collective bargaining is to find mutual agreement on wages, fringe benefits, workhours, promotion criteria, grievance procedures, and everything else that has to do with employment. The end result of this process is a collective bargaining agreement, which is a formal contract between management and the union. A negotiation process that breaks down without reaching an agreement might lead to a strike, lockout, or mediation.
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Lesson 6: Supply | Unit 3: Supply Curve
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Page: 8 of 19
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This table is a supply schedule presenting the relationship between supply price and quantity supplied. Our relationship is between the supply price in the middle column and the quantity of stuffed animals supplied in the right-hand column. Assumptions: - Ceteris paribus factors do not change.
- Quantities are supplied for a specific time period, such as one year.
Some observations about the supply schedule:- First, higher prices go with larger quantities supplied-the law of supply.
- Second, the prices are minimum values for the given quantities.
- Third, supply is the whole set of price/quantity pair numbers. Quantity supplied is any single number at the specified price.
- Fourth, these numbers are hypothetical, presenting a 'what if' relationship.
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EIGHT-FIRM CONCENTRATION RATIO The proportion of total output in an industry produced by the eight largest firms in an industry. This is one of two common concentration ratios. The other is the eight-firm concentration ratio. Another related measure is the Herfindahl index. The eight-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control held by the eight largest firms in the industry.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for the happiest person in the room.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"The past cannot be changed. The future is yet in your power. " -- Hugh White, U.S. Senator
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PHLX
Philiadelphia Stock Exchange
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