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THIRD-DEGREE PRICE DISCRIMINATION: A form of price discrimination in which a seller charges different prices to groups that are differentiated by an easily identifiable characteristic, such as location, age, sex, or ethnic group. This is the most common type of price discrimination. This is one of three price discrimination degrees. The others are first-degree price discrimination and second-degree price discrimination.

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PRICE LEVEL

The average of the prices of goods and services produced in the aggregate economy. In a theoretical sense, the price level is the price of aggregate production. In a practical sense, the price level is commonly measured by either of two price indexes, the Consumer Price Index (CPI) or the GDP price deflator. The CPI is the price index widely publicized in the media and used by the general public. The GDP price deflator, in contrast, is less well-known, but is usually the price index of choice among economists. The inflation rate is calculated as the percentage change in the price level.

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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for jovial bank tellers.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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IRR
Internal Rate of Return
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