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TRANSACTION COSTS: The costs that arise when dealing or trading with others that are beyond the price. These include the costs of negotiating, writing and enforcing contracts. When buying or selling securities for example, transaction costs include brokers' commissions and dealers' spreads.
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OPEN ECONOMY An economy that engages in international trade, especially one that exports goods and services to, and imports goods and services from, other economies that make up its foreign sector. It is "open" in the sense that goods and services flow into and out of the country. The alternative to an open economy is a closed economy, one that does not engage in international trade.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"The greatest use of life is to spend it for something that will outlast it." -- William James, psychologist
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MMSE
Minimun Mean Square Error
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