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January 24, 2018 

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ALLOCATION: The process of distributing resources for the production of goods and services, and of distributing goods and services for consumption by households. This process of allocation is essential to an economy's effort to address the problem of scarcity. An allocation is efficient if the resources, goods, and services are distributed according to the economy's highest valued uses.

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INVESTMENT BANKING: The process of wholesaling newly issued government securities, corporate stocks, bonds, and similar financial assets by purchasing large blocks and reselling them in smaller units to the public. In essence, investment banks "underwrite" stocks and bonds when they're first issued by guaranteeing to sell them at a pre-set price.

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INVESTMENT BANKING, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: January 24, 2018].


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LONG-RUN MARGINAL COST

The change in the long-run total cost of producing a good or service resulting from a change in the quantity of output produced. Like all marginals, long-run marginal cost is an increment of the corresponding total. It is the change in long-run total cost divided by, or resulting from, a change in quantity. Long-run marginal cost is guided by returns to scale rather than marginal returns.

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Today, you are likely to spend a great deal of time searching for rummage sales trying to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for neighborhood pets, especially belligerent parrots.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"Wherever you go, no matter what the weather, always bring your own sunshine."

-- Anthony J. D'Angelo

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