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JOB SATISFACTION: The satisfaction or utility that a worker receives from employment. Job satisfaction might result from the working environment (friendly co-workers, supportive boss) or from the type of work performed (playing sports, creating artwork, accomplishing goals). Satisfaction generated by a job is part of the "total compensation" an employee receives, meaning workers with more job satisfaction are often willing to accept a lower monetary wage payment.
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ENDPOINT ELASTICITY FORMULA A simple technique for calculating the coefficient of elasticity by estimating the elasticity for discrete changes in two variables using the initial values of each. The distinguishing characteristic of this formula is that percentage changes are calculated based on the initial values of each variable. An alternative technique is the midpoint elasticity formula.
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Stealing A Few Moments For CRIMELike most consumers, workers, and taxpayers, I engage in market exchanges for a lot of stuff -- food, labor, shelter, entertainment, confectionery products. But as I wandered through the peaceful community of Shady Valley, U. S. of A., I entered a "market" that I would have rather avoided. That's right, as the title indicates, I exchange some crime. I was mugged -- relieved of several valuable possessions -- right in front of the Shady Valley police station. I did the selling and my mugger did the "buying." While my part in the exchange was involuntary, the mugger's part was quite voluntary. In fact, the perpetrator of this crime acted much like any consumer headed to Natural Ned's Nursery and Garden Center in search of a creeping juniper. Let's see why?
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Everyone is bound to bear patiently the results of his own example. " -- Phaedrus, Philosopher
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BIS
Bank for International Settlements
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