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May 28, 2024 

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ACCELERATOR: The ratio between investment expenditures and the change in gross domestic product. This is based on the notion that business investment depends on the rate of growth of aggregate output. If the economy is expanding, in other words, then the business sector invests in more capital goods to produce the extra output needed. This accelerator effect modifies and magnifies the simply multiplier effect based on the induced consumption and the marginal propensity to consume.

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ORGANIZED LABOR: The general term used when referring to the collection of labor unions representing the interests of workers. Of course, to be "organized" labor, labor needs to "organized," which is what labor unions are all about. Prior to the onset of the labor union movement in the mid-1800s, labor was not organized, meaning that each and every worker acted independently in the pursuit of wages, fringe benefits, or improved working conditions. Even in modern times, organized labor represents only a fraction of the total labor force in the United States, something less than a fourth.

     See also | labor union | labor union movement | labor | labor force |


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FACTOR DEMAND

The willingness and ability of productive activities (usually, business firms) to hire or employ factors of production. Factor demand relates factor price and factor quantity, specifically, it is the range of factor quantities that are demanded at a range of factor prices. This is one half of the factor market. The other half is factor supply. The factors of production subject to factor demand include any and all of the four scarce resources--labor, capital, land, and entrepreneurship. However, because labor involves human beings directly, it is the factor that tends to receive the most scrutiny and analysis.

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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either a flower arrangement with a lot of roses for your grandmother or a wall poster commemorating the first day of winter. Be on the lookout for the last item on a shelf.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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