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May 25, 2022 

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INCENTIVE: A cost or benefit that motivates a decision or action by consumers, businesses, or other participants in the economy. Some incentives are explicitly created by government policies to achieve a desired end or they can just be part of the wacky world we call economics. The most noted incentive in the study of economics is that provided by prices. When prices are higher buyers have the "incentive" to buy less and sellers have the "incentive" to sell more. Price incentives play a fundamental role in the . When prices are higher buyers have the "incentive" to buy less and sellers have the "incentive" to sell more. Price incentives play a fundamental role in the allocation. When prices are higher buyers have the "incentive" to buy less and sellers have the "incentive" to sell more. Price incentives play a fundamental role in the allocation system that society uses to answer the three questions of allocation.

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STRIKE: An agreement of workers, usually the members of a union, to stop working. The objective of a strike is to encourage an employer to raise workers' wages or to improve working conditions. Strikes can be a powerful tool for unions to overcome the market control of employers or to gain a negotiating edge in collective bargaining. They can also create frustrating production bottlenecks that are ultimately suffered by underappreciated consumers.

     See also | union | market control | collective bargaining | lockout | boycott | arbitration | mediation | wildcat strike | sympathy strike | general strike | labor slowdown |


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STRIKE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 25, 2022].


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NET DOMESTIC PRODUCT

The total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. Net domestic product, usually abbreviated NDP, is one of five key National Income and Product Accounts measures reported regularly (every three months) by the Bureau of Economic Analysis. The other four measures are gross domestic product, national income, personal income, and disposable income. Net domestic product has largely replaced a comparable term, net national production.

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Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for jovial bank tellers.
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