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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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TOTAL FACTOR COST, PERFECT COMPETITION The opportunity cost incurred by a perfectly competitive firm when using a given factor of production to produce a good or service. This is the total cost associated with the use of a particular resource or factor of production--it is the total cost of the factor. For a perfectly competitive firm, the price paid is constant and total factor cost increases at a constant rate. Total factor cost is predominately used in the analysis of the factor market. Two derivative factor cost measures are average factor cost and marginal factor cost.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"I don't know the key to success, but the key to failure is trying to please everybody. " -- Bill Cosby
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