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UNEMPLOYED PERSONS: People who are NOT actively engaged in the production of goods and services, but ARE actively seeking employment in the production of goods and services. This is one of three official categories used to classify individuals by the Bureau of Labor Statistics (BLS) based on information obtained from the Current Population Survey. The other two categories are employed persons and not in the labor force. The sum of employed persons and unemployed persons constitute the civilian labor force. While the general notion of unemployed persons is people who are willing and able to work, but not working, the BLS has specific criteria designed to capture unemployment.
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AVERAGE FACTOR COST CURVE, MONOPSONY A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average factor cost curve for a firm with market control is positively sloped.
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The average length of a "business lunch" is about 36 minutes.
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"In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. " -- Harold S. Green, MCI founder
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KSE
Korea Stock Exchange
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