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NATIONAL LABOR RELATIONS ACT: A major labor union promoting act under New Deal program of the Roosevelt administration in 1935, it modified and replaced the National Industrial Recovery Act that was declared unconstitutional earlier in the year. Also known as the Wagner Act and frequently going by the acronym NLRA, it outlawed unfair labor practices by employers, such as the refusal by a firm to negotiate with a union representing a majority of its employees. It also established the National Labor Relations Board, which oversees labor activities.
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MARKET SHARE The fraction of an industry's total sales or some other activity accounted for by one or more firms in the industry. An individual firm is often concerned with its "share of the market" as an indication of "success." Market share is also key to the analysis of market structure, market control, and industry concentration--especially for oligopoly. It can be used to indicated the degree concentration and market control of one or more firms in an industry. It can be used alone or to calculate concentration ratios and the Herfindahl index.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for strangers with large satchels of used undergarments.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Don't judge each day by the harvest you reap, but by the seeds you plant." -- Robert Louis Stevenson, Author
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JEMS
Journal of Economics and Management Strategy
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