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LABOR: One of the four basic categories of resources, or factors of production (the other three are capital, land, and entrepreneurship). Labor is the services and efforts of humans that are used for production. While labor is commonly thought of as those who work in factories, it includes all human efforts (except entrepreneurship), such as those provided by clerical workers, technicians, professionals, managers, and even company presidents.

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FALLACY OF DIVISION

The logical fallacy of arguing that what is true for the whole is also true for the parts. In the study of economics, this takes the form of assuming that what works for the aggregate, or macroeconomy, also works for parts of the economy, such as households or businesses. The contrasting fallacy is the fallacy of composition.

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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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Two and a half gallons of oil are needed to produce one automobile tire.
"The time to repair the roof is when the sun is shining."

-- John F. Kennedy, 35th U. S. president

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