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SCAB: Someone who starts working or continues to work for a firm while a labor union is engaged in a strike of the firm. Scab is common term used by union members for the more polite name strikebreaker. Striking union members are more inclined to use even more derogatory terms. Such workers are used by employers to force union members to stop their strike and return to work. While strikers don't like it, labor laws guarantee that nonstriking workers can cross the picket line and go to work.
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BUSINESS TRANSFER PAYMENTS: A payment by the business sector to the household sector without any corresponding production or expectations of production. Business transfer payments are essentially gifts, or subsidies, made to the household sector from the business sector. This is one of several key differences between national income (the resource cost of production) and gross/net domestic product (the market value of production). For further discussion of this point, see gross domestic product and national income or net domestic product and national income. business transfer payments, abbreviated BTP, tend to be quite small, invariably less than 1% of gross domestic product. See also | business sector | household sector | production | subsidy | transfer payment | national income | gross domestic product | net domestic product | gross domestic product and national income | net domestic product and national income |
Recommended Citation:BUSINESS TRANSFER PAYMENTS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: business transfer payments
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EXPLICIT COST An opportunity cost that involves a monetary payment or some other form of compensation. The monetary payment is generally made to compensate the person who initially foregoes the satisfaction. This payment, in effect, transfers the burden of the opportunity cost from the original person to the one making payment. Explicit cost is also commonly termed out-of-pocket or accounting cost, and occasionally explicit opportunity cost.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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ANOVA
Analysis of Variance
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