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JOB SECURITY: The prospects of continued employment with little or no fear of being forced to leave. Job security is often part of the terms of employment and is designed to reduce uncertainty for both employees and employers. However, it can also reduce worker productivity and restrict the efficient movement of resources between jobs.
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LONG-RUN PRODUCTION ANALYSIS An analysis of the production decision made by a firm in the long run. The central characteristic of long-run production analysis is that all inputs under the control of the firm are variable. The central principle guiding production in the long run is returns to scale, which indicates how production responds to proportional changes in all inputs. A contrasting analysis is short-run production analysis.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Being defeated is only a temporary condition; giving up is what makes it permanent." -- Marilyn vos Savant, Author
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ICCH
International Commodities Clearing House
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