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LABOR UNION: An organization of workers or employees who act jointly to negotiate with their employers over wages, fringe benefits, working conditions, and other facets of employment. The main function of unions is to provide a balance for the market control exerted over labor by big business.
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PERFECT COMPETITION, PROFIT ANALYSIS A perfectly competitive firm produces the profit-maximizing quantity of output that generates the highest level of profit. This profit approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve a comparison of total revenue and total cost or a comparison of marginal revenue and marginal cost.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"In a time of drastic change, it is the learners who inherit the future. " -- Eric Hoffer, philosopher
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ASEAN
Association of South East Asian Nations
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