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OPTION: A contract that gives the buyer an "option" to complete a transaction within a given time period. Options are used frequently in financial markets.
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FACTOR DEMAND ELASTICITY The elasticity of a factor demand curve is affected by four items: (1) the price elasticity of demand for the good produced, (2) the production function technology and elasticity of marginal physical product, (3) the ease of factor substitutability, and (4) the share of the factor's cost relative to total cost. Changes in any of these four items cause the price elasticity of factor demand to change. In other words, the quantity of factor services demanded becomes more or less sensitive to changes in the factor price.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either rechargeable batteries or a rechargeable battery for your computer. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"The greatest barrier to success is the fear of failure." -- Sven Goran Eriksson, writer
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IRS
Internal Revenue Service
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