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UNEMPLOYED: The condition in which a resource (especially labor) is NOT actively engaged in a productive activity, but IS actively seeking employment. This general condition forms the conceptual basis for one of the three categories used by the Bureau of Labor Statistics (BLS) when classifying individual's labor force status. For specific details of the BLS classification procedure, see unemployed persons. The other two BLS categories are employed persons and not in the labor force.
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MARGINAL REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between the marginal revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because a monopolistically competitive firm is a price maker and faces a negatively-sloped demand curve, its marginal revenue curve is also negatively sloped and lies below its average revenue (and demand) curve. A monopolistically competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for pencil sharpeners with an attitude.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Life is not a 'brief candle.' It is a splendid torch that I want to make burn as brightly as possible before handing it on to future generations. " -- Bernard Shaw, journalist
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SNP
Seminonparametric
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