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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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AVERAGE PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average product, usually abbreviated AP, is found by dividing total product by the quantity of the variable input. Average product, which occasionally goes by the alias average physical product (APP), is one of two measures derived from total product. The other is marginal product.
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Conserving Our NATURAL RESOURCESMona Mallard Duct Tape Industries, the world's a leading producer of duct tape (that all-purpose, omni-present, shiny gray tape), is located right here in Shady Valley. Perhaps you've heard that they recently developed a new-fangled form of duct tape that's certain to revolutionize duct tape as we know it. This revolutionary development has, however, created a "situation" that we, pedestrian explorers of the economy, should consider. Mona Mallard's new duct tape uses "quagliminium," a relatively limited mineral found only in the quaint and courteous Republic of Northwest Queoldiola. Prior to this duct tape development, quagliminium had only one use, as lubricant for OmniStraight shoestring straighteners. The Northwest Queoldiolan supplies were sufficient to lubricate shoestring straighteners well into the year 3000. As a duct tape input, though, quagliminium deposits will be exhausted in a scant 50 years. Should we, could we, allow Mona Mallard to exhaust the supply of quagliminium? If they do, how will future generations lubricate their shoestring straighteners? Should we call for a moratorium on quagliminium use?
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a flea market wanting to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"We succeed only as we identify in life, or in war, or in anything else, a single overriding objective, and make all other considerations bend to that one objective. " -- President Dwight D. Eisenhower
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TVC
Total Variable Cost
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