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OCCUPATIONAL MOBILITY: The mobility, or movement, of factors of production from one type of productive activity to another type of productive activity. In particular, occupational mobility is the ease with which resources can change occupations. For example, a worker leaves a job as an accountant to takes a job as a computer programmer. Some factors are highly mobile and thus can easily moved jobs. Other factors are highly immobile and not easily able to switch production activities.
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BANK RUN A situation in which a relatively large number of a bank's customers attempt to withdraw their deposits in a relatively short period of time, usually within a day or two. While common throughout the 1800s and early 1900s, government deposit insurance has largely eliminated banks runs in the modern economy. Historically a bank run was prompted by fears that the bank was on the verge of collapse, causing deposits to become worthless. Ironically a bank run often caused the bank to fail. Bank runs were often infectious, leading to economy-wide bank panics and business-cycle contractions.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for cardboard boxes.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"When your values are clear to you, making decisions becomes easier. " -- Roy Disney, executive
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MPP
Marginal Physical Product
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