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SOLIDARITY: The rallying cry for organized labor and the labor union movement that has attempted to cut across industries and occupations, based on an "us versus them" view of the labor market. The "us" are the workers and the "them" are the employers. This solidarity notion presumes that when one worker wins a battle against an employer then all workers win.
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PERFECT COMPETITION, EFFICIENCY Perfect competition is an idealized market structure that achieves an efficient allocation of resources. This efficiency is achieved because the profit-maximizing quantity of output produced by a perfectly competitive firm results in the equality between price and marginal cost. In the short run, this involves the equality between price and short-run marginal cost. In the long run, this is seen with the equality between price and long-run marginal cost at the minimum efficient scale of production.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for cardboard boxes.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"Trust yourself. You know more than you think you do. " -- Benjamin Spock, doctor
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