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ZERO COUPON BOND: Also termed a zero bond, a bond that does not pay interest, in which the return is generated by the difference between the purchase price and the face value paid at maturity. Because they do not pay interest, zero coupon bonds are sold at a discount. For example, a $10,000 zero coupon bond that matures in one year, would generate a 10% return if it sold at a discount of $9,000.
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Lesson 10: Utility and Demand | Unit 3: Complex Choices
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Page: 13 of 21
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In this unit, you should have learned about:- How a consumer maximizes utility by selecting between the consumption of two goods.
- That buyers will choose between two goods based on the marginal utility of each.
- Why buyers are faced with a constrained utility maximization decision based on prices and limited income.
- Alternative choices faced by a consumer that may or may not maximize utility.
- The rule of consumer equilibrium that states two goods are consumed until the marginal utilities generated by the last dollar are equal.
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SCARCE GOOD A tangible item produced with society's limited resources for the purpose of satisfying wants and needs. As a general notion, the phrase scarce good can also commonly include intangible services produced with society's limited resources for the purpose of satisfying wants and needs. A synonymous term for scarce good is economic good.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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LBO
Leveraged Buyout
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