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LABOR UNION MOVEMENT: Activities on the part of workers in the United States, beginning in the mid-1800s and extending into the mid-1900s, to establish labor unions and otherwise promote the interests of workers. This movement, which coincided with the onset of the U.S. industrial revolution, was launched with the Commonwealth versus Hunt court decision in 1842 which made it legal to join a labor union. The labor union movement had a turbulent and violent history as organized labor sought to gain greater control over labor market activities. The movement reached its peak in the 1950s, with just under 30% of the labor force belonging to labor unions.
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AVERAGE FACTOR COST CURVE, MONOPSONY A curve that graphically represents the relation between average factor cost incurred by a firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a firm with no market control is horizontal. The average factor cost curve for a firm with market control is positively sloped.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for attractive cable television service repair people.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals." -- Sir Edmund Hillary, Explorer
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DOL
Department of Labor
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