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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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UNEMPLOYED The condition in which a resource (especially labor) is NOT actively engaged in a productive activity, but IS actively seeking employment. This general condition forms the conceptual basis for one of the three categories used by the Bureau of Labor Statistics (BLS) when classifying an individual's labor force status--employed persons. The other two BLS categories are employed persons and not in the labor force.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center hoping to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Don't waste your effort on a thing that results in a petty triumph unless you are satisfied with a life of petty issues. " -- John D. Rockefeller, industrialist
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TFP
otal Factor Productivity
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