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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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PRODUCT

A generic term for a tangible good or an intangible service that is the output or end result of the resource transformation process of a business firm. This notion of product usually surfaces in the context of analyzing the short-run production of a firm, often modified by the terms total, marginal, and average, as in total product, marginal product, and average product.

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APLS

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Today, you are likely to spend a great deal of time at a garage sale looking to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for telephone calls from long-lost relatives.
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John Maynard Keynes was born the same year Karl Marx died.
"Few things can help an individual more than to place responsibility on him, and to let him know that you trust him. "

-- Booker T. Washington, educator

DARA
Decreasing Absolute Risk Aversion
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