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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 18: Banking | Unit 2: Banking Details Page: 4 of 24

Topic: Types <=PAGE BACK | PAGE NEXT=>

There are four types of financial institutions.

Four types:

  1. Banks
  2. Savings and Loans Associations
  3. Credit Unions
  4. Mutual Savings Banks

Important point:

  • Each type was established for different reasons and to play distinct roles in the economy. But now, they all operate much the same.

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MARGINAL FACTOR COST, MONOPSONY

The change in total factor cost resulting from a change in the quantity of factor input employed by a monopsony. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.

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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at an auction trying to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for poorly written technical manuals.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
"always remember an epitaph which is in the cemetery at Tombstone, Arizona. It says: „Here lies Jack Williams. He done his damnedest.¾ I think that is the greatest epitaph a man can have ‚ When he gives everything that is in him to do the job he has before him. That is all you can ask of him and that is what I have tried to do. "

-- Harry Truman, 33rd US president

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