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PERFECTLY ELASTIC: An elasticity alternative in which infinitesimally small changes in price cause infinitely large changes in quantity. In other words, quantity is hyper, super, infinitely responsive to price. Any change in price, no matter how small triggers an infinite change in quantity. Perfectly elastic should be compared with other elasticity alternatives--perfectly inelastic, relatively elastic, relatively inelastic, and unit elastic.
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FOREIGN EXCHANGE A common term for the currency used in "another country" and is in direct contrast to the "domestic currency" used within a given country. More generally, foreign exchange is any financial instrument that gives one country a claim on the currency of another country and which is used to make payments between countries. The most important type of foreign exchange is, of course, the currency of other countries. However foreign exchange also includes financial assents such as bank deposits denominated in another currency. Foreign exchange is appropriately traded through the foreign exchange market and the price of foreign currency is termed the foreign exchange rate.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for a thesaurus filled with typos.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"The past cannot be changed. The future is yet in your power. " -- Hugh White, U.S. Senator
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PDI
Personal Disposable Income
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