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PLURALITY RULE: A voting rule in which decisions are made based on a plurality of the votes cast. A plurality is defined as the most votes obtained when more than two candidates or options exist, but none receives a majority. If, for example, two of three candidates running for office receive 33 percent of the vote, then the third candidate with 34 percent receives the plurality. Presidential primary elections, which can have up to a dozen candidates, are commonly won with a plurality of the votes. This is one of several voting rules. Others include majority, super majority, and unanimity.
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ECONOMIC COST An alternative term for opportunity cost, which is the highest valued alternative foregone in the pursuit of an activity. Opportunity cost, or economic cost, is one of the most fundamental concepts used in the study of economics, hence the reason it is also termed economic cost. Economic, or opportunity cost is also commonly termed just cost.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for a thesaurus filled with typos.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. " -- Harold S. Green, MCI founder
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SFE
Sydney Futures Exchange
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