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NOT IN THE LABOR FORCE: Anyone who is not classified by the Bureau of Labor Statistics (BLS) as either employed persons or unemployed persons. The combination of employed persons and unemployed persons is the official specification of the civilian labor force, meaning anyone who does not qualify for the civilian labor force is classified as "not in the labor force." This catch-all category is largely comprised of several notable segments of the population, such as young, elderly, homemakers, and military. However, it includes others who are either unwilling or unable to engage in productive activities for assorted reasons.
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FIRM OBJECTIVES: The standard economic assumption underlying the analysis of firms is profit maximization. Firms are assumed to make decisions that will increase profit. Generally speaking, profit maximization is the process of obtaining the highest possible level of economic profit through the production and sales of goods and services. For a more thorough discussion of this topic, see the profit maximization entry. Real world firms might pursue other objectives including: (1) sales maximization, (2) pursuit of personal welfare, and (3) pursuit of social welfare. In some cases, these other objectives help a firm pursue profit maximization. In other cases, they prevent a firm from maximizing profit. See also | firm | business | business sector | profit | profit maximization | production | natural selection | short-run production |
Recommended Citation:FIRM OBJECTIVES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 9, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: firm objectives
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AUTONOMOUS EXPORTS Exports to the foreign sector that do not depend on domestic income or production (especially national income or gross domestic product). Exports depend on foreign income or production, but not on domestic income or production. While other expenditures have both autonomous and induced components, exports are exclusively autonomous. Autonomous exports are a key part of the autonomous part of net exports. Induced net exports are due to induced imports.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for malfunctioning pocket calculators.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"Nothing great has ever been achieved except by those who dared believe that something inside them was superior to circumstances. " -- Bruce Barton, Advertising executive
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FED
Federal Reserve
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