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April 24, 2024

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POVERTY RATE: The proportion of the population that lies beneath the official poverty line. For example, if the total population of the country is 270 million, and 40 million have incomes placing them below the official poverty line, then the poverty rate is 14.8%.

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Most Viewed (Number)

production stages (180)
perfect competition, characteristics (89)
business cycle phases (86)
number of buyers, demand determinant (60)
limited resources (59)

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Lesson 12: Elasticity and Demand | Unit 2: The Continuum

Page: 6 of 25

Topic: Five Alternatives

A precise categorization separates elasticity into five alternatives along a continuum:
Perfectly inelastic demand results if the elasticity coefficient is 0.
In the range greater than 0 and less 1, demand is relatively inelastic.
If the coefficient is exactly equal to 1, demand is unit elastic.
Demand occupies the relatively elastic range of the continuum with an elasticity coefficient greater than 1 and less than infinity.
At the far extreme, perfectly elastic demand results if the elasticity coefficient is infinity.

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UNEMPLOYED

The condition in which a resource (especially labor) is NOT actively engaged in a productive activity, but IS actively seeking employment. This general condition forms the conceptual basis for one of the three categories used by the Bureau of Labor Statistics (BLS) when classifying an individual's labor force status--employed persons. The other two BLS categories are employed persons and not in the labor force.

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BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?

Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.

"The greatest things ever done on Earth have been done little by little. "

-- William Jennings Bryan

E
Employment

A PEDestrian's Guide
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