|
|
RESERVATION PRICE: The lowest price at which a supplier is willing to supply any amount of a good. This is usually based on the minimum cost of production. For labor, it's the lowest wage that makes it worthwhile to get up in the morning, miss your favorite daytime television shows, and go to work.
Visit the GLOSS*arama
|
|
|
|
|
ORDINAL UTILITY The notion that utility--the satisfaction of wants and needs achieved through the consumption of goods and services--is measured by a ranking of preferences (first, second, third, etc.) that are only comparable on a relative basis. Ordinal utility does not presume that satisfaction is a measurable characteristic of a person, like height or weight, that can be compared against an established benchmark. The contrasting notion is cardinal utility, which is based on a numerical standard.
Complete Entry | Visit the WEB*pedia |
|
|
GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for high interest rates.
Your Complete Scope
This isn't me! What am I?
|
|
|
The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
|
|
|
"Chance favors only the prepared mind." -- Louis Pasteur, biologist
|
|
P/E
Price-Earnings Ratio
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
