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TRADE UNION: A labor union composed of workers in the same occupation, but not necessarily in the same industry, producing the same product, or employed by the same firm. Common examples of craft unions are for plumbers, carpenters, and musicians. Craft unions generally exert market control by limiting the number of suppliers. The American Federation of Labor (AFL) began as a collection of craft unions. This is also termed a craft union.

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MARKET-CLEARING PRICE

The price that exists when a market is clear of shortage and surplus, or is in equilibrium. Market-clearing price is a common, non-technical term for equilibrium price. In a market graph, the market-clearing price is found at the intersection of the demand curve and the supply curve.

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Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for letters from the Internal Revenue Service.
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A half gallon milk jug holds about $50 in pennies.
"Old age isn't so bad when you consider the alternative. "

-- Cato, Roman orator

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