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VALUE IN USE: The satisfaction of wants and needs provided by the direct consumption of goods and services. Acquiring value from the use of goods and services is really the ultimate goal of economic activity. It is the final step in the production, allocation, and consumption activities that undertaken to address the fundamental problem of scarcity. Value in use should be contrasted with the similar phrase, value in exchange.
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EMPLOYMENT RATE The ratio of employed persons to the total civilian noninstitutionalized population 16 years old or older. Also termed the employment-population ratio, the employment rate is used as an alternative to the unemployment rate as an indicator of the utilization of labor resources.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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LCH
Life Cycle Hypothesis
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