|
|
OPEN SHOP: An employment arrangement in which workers of a firm are free to join or not join a union because employment is unrelated to union membership. Because an open shop tends to limit the proportion of a firm's employees represented, this can significantly dilute a labor union's market control. Open shops are established in states that have right-to-work laws.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 21: Factor Demand | Unit 2: Derived Demand
|
Page: 11 of 24
|
In this unit, you should have learned about:- That factor demand is derived demand, meaning it is derived from the demand for the output produced by the factor.
- A few of the issues that involve the derived demand for a factor include the income of medical doctors versus economic doctors, the salaries of professional athletes, and the farm problem.
- That marginal productivity theory indicates how firms employ resources based on productivity of the input and the value of the output.
- The relation between marginal (physical) product, marginal revenue, and marginal revenue product.
|
|
|
|
|
|
|
SCIENCE A discipline, or topic of study, that uses the scientific method to investigate and explain the operation of the world by testing and verifying hypothesized relations. Science is commonly divided into physical sciences (including chemistry, physics, and biology) and social sciences (including economics, sociology, and political science). Science is not just a subject, but a method of investigation using the scientific method.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale trying to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for jovial bank tellers.
Your Complete Scope
This isn't me! What am I?
|
|
|
In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
|
|
|
"Laughter is the shortest distance between two people. " -- Victor Borge, musician, humorist
|
|
CACM
Central American Common Market
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
