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March 28, 2024 

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LOCKOUT: A plant or factory that is closed temporarily, because it's owners are trying to gain a negotiating advantage over the employees' union. A lockout is commonly used by a company's management if they suspect the union is planning to strike. A lockout by management before the union strikes is much like a pre-emptive military attach that tries to hit the enemy hard, fast, and first.

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ISLAMIC DEVELOPMENT BANK: A multilateral development financing institution, established to foster social and economic development of it's member countries and Muslim communities world-wide. The functions of the Bank are to participate in equity capital and grant loans for productive projects and enterprises besides providing financial assistance to member countries in other forms for economic and social development. The Bank's principal office is in Jeddah in the Kingdom of Saudi Arabia. The present membership of the Bank consists of 54 countries.

     See also | World Bank | International Monetary Fund | Asian Development Bank | Inter-American Development Bank | African Development Bank |


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QUANTITY DEMANDED

The specific quantity of a good that buyers are willing and able to buy at a specific demand price. The key word is "specific." Quantity demanded and demand price form matched pairs--one quantity, one price. The combination of all price-quantity pairs is then what constitutes demand. The demand curve is a plot of the quantity demanded at each demand price.

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Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for poorly written technical manuals.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
"Good judgment comes from experience, and often experience comes from bad judgment."

-- Rita Mae Brown ‚ Writer

GSP
Gross State Product, Generalized System of Preferences
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