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WORKERS' COMPENSATION: A government-run insurance program that provides benefits to workers injured on the job. Funding for these benefits come from premiums paid by employers. The federal government mandates the program, but it's administered by each of the states. This creates a great deal of diversity, with some states having good benefits and high premiums (sort of pro labor), while others have lousy benefits and low premiums (pro business). In addition to differences among states, premiums also differ based on a business's historical record of accidents. Those companies with a higher number of industrial accidents pay more in premiums than those with fewer accidents.
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COMPETITION In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for gnomes hiding in cypress trees.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Cherish your visions and your dreams as they are the children of your soul; the blue prints of your ultimate achievements." -- Napoleon Hill, Author
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