| Business's labour demand curve | a graph showing the possible combinations of workers demanded by a business at each possible wage
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| Business's labour supply curve | a graph showing the possible combinations of workers supplied to a business at each possible wage
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| Collateral | assets pledged by a borrower as security against a loan; these assets can be seized by the lender if the loan is not repaid
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| Complementary resources | resources that are used together
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| Craft union | a labour union of workers in a particular occupation
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| Credit risk | the assessed likelihood of a borrower not repaying a loan
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| Human capital | the income-earning potential of a person's skills and knowledge
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| Industrial union | a labour union of workers in a certain industry, no matter what their occupations
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| Interest | the payment to a lender by the borrower for use of money loaned
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| Job discrimination | Hiring, wage, and promotion decisions based on criteria other than a worker's credentials or performance.
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| Labour market demand curve | a graph showing the possible combinations of workers demanded in a certain labour market at each possible wage
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| Labour market supply curve | a graph showing the possible combinations of workers supplying their labour in a certain labour market at each possible wage
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| Labour productivity | The quantity of output produced per worker in a given period of time; the average product of labour.
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| Marginal productivity theory | the theory that businesses use resources on the basis of how much extra profit these resources provide
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| Marginal resource cost | the extra cost of each additional unit of a resource
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| Marginal revenue product | the change in total revenue associated with employing each new unit of a resource
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| Principal | the amount of a loan, excluding interest
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| Profit-maximizing employment rule | a business should use a resource up to the point where the resource's marginal revenue product equals its marginal resource cost
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| Rent | the payment for use of a productive resource that is available only in a fixed amount
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| Seniority rights | the workplace privileges provided to workers who have the longest experience with their employer
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| Substitute resources | resources that can be used in place of one another without affecting output
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2002 McGraw-Hill Higher Education