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FACE 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. Face value, also called par 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 face value of $10,000, but might have a current market price of $9,950. The difference between face 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 face value and is selling at a premium if the current price is more than the par value.
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RATIONING The distribution or allocation of a limited commodity, usually accomplished based on a standard or criterion. The two primary methods of rationing are markets and governments. Rationing is needed due to the scarcity problem. Because wants and needs are unlimited, but resources are limited, available commodities must be rationed out to competing uses.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. 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 thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"The purpose of learning is growth, and our minds, unlike our bodies, can continue growing as long as we live." -- Mortimer Adler
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PWAC
Present Worth of Annual Costs
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