
YIELD TO MATURITY: The annual rate of return on a financial asset that is held until maturity. Yield to maturity depends on both the coupon rate and the face or par value paid at maturity. If the selling price of a financial asset is equal to its par value, then the yield to maturity is equal to the current yield and the coupon rate. However, if the asset is selling at a discount, then the yield to maturity exceeds the current yield, which is greater than the coupon rate. And if the asset is selling at a premium, then the yield to maturity is less than the current yield, which is below than the coupon rate.
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Lesson Contents

Unit 1: The Concept 
Unit 2: Resources 
Unit 3: Opportunity Cost 
Unit 4: College Cost 
Unit 5: THE Problem 

Scarcity
In this lesson you'll see why scarcity tends to make economists grumpy. You'll see that scarcity is a perpetual condition that exists because people have unlimited wants and needs, but limited resources used to satisfy these wants and needs. You'll also see how this scarcity problem underlies the common notion of cost, which is integral to the study of economics. The five units contained in this lesson provide a tour through the economic problem of scarcity.  The first unit examines the fundamental concept of scarcity  the combination of limited resources and unlimited wants and needs  that is virtually synonymous with the study of economics.
 The second unit discusses the four basic categories of limited resources labor, capital, land, and entrepreneurship  that produce the goods that are used to satisfy unlimited wants and needs.
 In the third unit, we take a look at the notion of opportunity cost and see how it is related to the scarcity problem.
 We then turn out attention in the fourth unit to a simple example of the explicit and implicit costs of attending college.
 The fifth and final unit in this lesson then ponders why scarcity is considered THE economic problem and providing a little insight into why economists are grump.



AVERAGE FACTOR COST AND MARGINAL FACTOR COST A mathematical connection between average factor cost and marginal factor cost stating that the change in the average factor cost depends on a comparison between average factor cost and marginal factor cost. For perfect competition, with no market control, marginal factor cost is equal to average factor cost, and average factor cost does not change. For monopsony and other firms with market control, marginal factor cost is greater than average factor cost, and average factor cost rises.
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BROWN PRAGMATOX [What's This?]
Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for gnomes hiding in cypress trees. Your Complete Scope
This isn't me! What am I?


Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.


"The roots of education are bitter, but the fruit is sweet."  Aristotle, philosopher


LRTC Long Run Total Cost


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