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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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MARKET

The organized exchange of commodities (goods, services, or resources) between buyers and sellers within a specific geographic area and during a given period of time. Markets are the exchange between buyers who want a good (the demand-side of the market) and the sellers who have it (the supply-side of the market).

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Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for cardboard boxes.
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The average bank teller loses about $250 every year.
"And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. "

-- Andrew Carnegie, entrepreneur

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