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WEIGHT LOSING: An activity in which the transportation cost of the inputs is greater than the transportation cost of the output. Using the term weight to mean transportation cost, an activity is said to lose weight if the cost of getting the inputs to the factory is greater than the cost of moving the output to the market. A weight-losing activity has a greater attraction to, and tends to locate near, the source for the inputs.
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EMPLOYMENT-POPULATION RATIO The ratio of employed persons to the total civilian noninstitutionalized population 16 years old or older. Also termed the employment rate, the employment-population ratio is used as an alternative to the unemployment rate as an indicator of the utilization of labor resources.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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LCH
Life Cycle Hypothesis
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