Google
Wednesday 
October 30, 2024 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
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.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

OPPORTUNITY COST: The highest valued alternative foregone in the pursuit of an activity. This is a hallmark of anything dealing with economics--and life for that matter--because any action that you take prevents you from doing something else. The ultimate source of opportunity cost is the pervasive problem of scarcity (unlimited wants and needs, but limited resources). Whenever limited resources are used to satisfy one want or need, there are an unlimited number of other wants and needs that remain unsatisfied. Herein lies the essence of opportunity cost. Doing one thing prevents doing another.

     See also | economics | scarcity | unlimited wants and needs | limited resources | resources | scarce resource | free resources | production possibilities | production possibilities frontier | law of increasing opportunity cost | value | satisfaction | consumption | production | economic cost | accounting cost | total cost |


Recommended Citation:

OPPORTUNITY COST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: October 30, 2024].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: opportunity cost

Search Again?

Back to the GLOSS*arama

LABOR

The mental and physical human efforts used in the production of goods and services. This is one of four basic categories of resources, or factors of production. The other three are capital, land, and entrepreneurship.

Complete Entry | Visit the WEB*pedia


APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for poorly written technical manuals.
Your Complete Scope

This isn't me! What am I?

The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
"Anyone who has never made a mistake has never tried anything new. "

-- Albert Einstein, physicist

BCUA
Business Computers Users Association
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2024 AmosWEB*LLC
Send comments or questions to: WebMaster