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SECOND-DEGREE PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the different prices for different quantities of a good. This also goes by the name block pricing. This is possible because the different quantities are purchased by different types of buyers with different demand elasticities. This is one of three price discrimination degrees. The others are first-degree price discrimination and third-degree price discrimination.
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Lesson 17: Money | Unit 3: Monetary Aggregates
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Page: 16 of 25
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- The concept and definition of M1, which is the sum of currency and coins held by the non-bank public, and checkable deposits.
- That credit cards are not part of M1, they are not money.
- That M2 is a broader measure of money that includes M1 plus what we can call near money, that is, temporary savings, a pool of funds that can be accessed quickly and easily.
- That near monies are savings and that there are several different types of savings: standard savings accounts, certificates of deposit (CDs), money market funds, overnight Eurodollars and overnight repurchase agreements.
- M3 is equal to M2 plus other near monies which include larger denomination certificates of deposit and longer-term repurchase agreements.
- Liquid assets L, are the economy's total financial assets that can be converted to M1.
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AVERAGE REVENUE, PERFECT COMPETITION The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a perfectly competitive firm average revenue is also equal to marginal revenue. Average revenue for a perfectly competitive firm is often depicted by a horizontal average revenue curve.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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DPI
Disposable Personal Income
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