|
|
ARBITRATION: Intervention of an impartial third party to settle disputes between two others. The decisions of this third party -- the arbitrator -- are legally binding, much like the ruling of a judge in a court of law. Arbitration is commonly used to interpret a collective bargaining agreement between unions and employers. Much like a judge (in some cases it is a judge) an arbitrator determines how a given union and employer conflict stacks up against the terms of existing agreement. Note that an arbitrator doesn't try to decide what's "best, "fair," or mutually agreeable to both sides -- as would be the case with mediation -- but only what's in line with the existing agreement.
Visit the GLOSS*arama
|
|
|
|
|
PERFECT COMPETITION, SHUTDOWN A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost).
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a half-dozen helium filled balloons or a packet of address labels large enough for addresses of both the sender and the recipient. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope
This isn't me! What am I?
|
|
|
Two and a half gallons of oil are needed to produce one automobile tire.
|
|
|
"Ships are safe in harbor. But that is not what ships are for." -- Anonymous
|
|
ACRS
Accelerated Cost Recovery System
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
