Table 15-5
2010 Labor Data for Tajnia -Refer to Table 15-5

question 213

True/False

Table 15-5
2010 Labor Data for Tajnia
$$\begin{array} { | l | l | } \hline \text { Number of adiults employed } & 10,000 \\\hline \text { Number of adults unemployed } & 2,250 \\\hline \text { Number of atults not in the labar force } & 17,750 \\\hline\end{array}$$
-Refer to Table 15-5. The labor force of Tajnia in 2010 is 10,000.

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Definitions:

Four-Firm Concentration Ratio

The four-firm concentration ratio is a measure used to assess the competitiveness of a market by calculating the combined market share of the four largest firms within an industry.

Herfindahl Index

A measure of the size of firms in relation to the industry and an indicator of the competition level among them.

Dominant Strategy

In a strategic interaction (game) between two or more players, a course of action (strategy) that a player will wish to undertake no matter what the other players choose to do.

Nash Equilibrium

A concept within game theory where no player can benefit by changing strategies while the other players keep theirs unchanged.