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GENERAL STRIKE: A strike by a majority of the workers in key industries throughout a country in a particular region of the country. This type of strike is different in both magnitude and intent than that of a strike against a specific firm or industry. In particular, a general strike involves virtually every union regardless of industry or occupation. In addition, the intent of a general strike is to bring the economy to a standstill as a means of forcing major structural changes in the economy or society. Such a strike has been effectively used from time to time, but because it does shut down the economy and imposes hardships on almost everyone.
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AVERAGE FACTOR COST CURVE, MONOPSONY A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average factor cost curve for a firm with market control is positively sloped.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. " -- George Lucas
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MC
Marginal Cost
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