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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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ECONOMIC SYSTEM

The assorted institutions that society uses to answer the three basic questions of allocation and address the fundamental problem of scarcity. Another, more popular term for economic system is economy. An economy, or economic system, is the structural framework in which households, businesses, and governments undertake the production and consumption decisions that allocate limited resources to satisfy unlimited wants and needs.

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Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for crowded shopping malls.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"To understand a man, you must know his memories. The same is true of a nation."

-- Anthony Quayle, Actor

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