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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.
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VOLUNTARY EXCHANGE The process of willingly trading one valuable commodity (good, service, or resource) for another. The key term is "willingly," which distinguishes voluntary exchanges from involuntary exchanges, such as those created by government taxes. Voluntary exchanges are the foundation of market transactions.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"Believe one who has tried it. " -- Virgil, Roman poet
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ICSID
International Center for the Settlement of Investment Disputes
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