|
|
LOCKOUT: A plant or factory that is closed temporarily, because it's owners are trying to gain a negotiating advantage over the employees' union. A lockout is commonly used by a company's management if they suspect the union is planning to strike. A lockout by management before the union strikes is much like a pre-emptive military attach that tries to hit the enemy hard, fast, and first.
Visit the GLOSS*arama
|
|
|
|
|
PRODUCT A generic term for a tangible good or an intangible service that is the output or end result of the resource transformation process of a business firm. This notion of product usually surfaces in the context of analyzing the short-run production of a firm, often modified by the terms total, marginal, and average, as in total product, marginal product, and average product.
Complete Entry | Visit the WEB*pedia |
|
|
|
Two and a half gallons of oil are needed to produce one automobile tire.
|
|
|
"The greatest use of life is to spend it for something that will outlast it." -- William James, psychologist
|
|
JEH
Journal of Economic History
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
