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PAR VALUE: The stated, or face, value of a legal claim or financial asset. For debt securities, such as corporate bonds or U. S. Treasury securities, this is amount to be repaid at the time of maturity. For equity securities, that is, corporate stocks, this is the initial value set up at the time it is issued. Par value, also called face value, is not necessarily, and often is not, equal to the current market price of the asset. A $10,000 U.S. Treasury note, for example, has a par value of $10,000, but might have a current market price of $9,950. The difference between par value and current price contributes to the yield or return on such assets. An asset is selling at a discount if the current price is less than the par value and is selling at a premium if the current price is more than the par value.
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ELASTIC The general relation between two variables in which relatively small changes in one variable (A) cause relatively large changes in another variable (B). Small changes in variable A cause relatively large changes in variable B or the percentage change in variable B is larger than the percentage change in variable A. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Elastic is one of two general elasticity relations between two variables. The other is inelastic.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a T-shirt commemorating the 2000 Presidential election or a really, really exciting, action-filled video game. Be on the lookout for rusty deck screws.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Wise men speak because they have something to say; Fools because they have to say something. " -- Plato, philosopher
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