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ZERO BOND: Also termed a zero coupon 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 bonds are sold at a discount. For example, a $10,000 zero 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 23: Factor Market Equilibrium | Unit 3: Perfect Competition
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Page: 15 of 24
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In this unit, you should have learned about:- The characteristics of perfection competition for factor markets.
- That a firm operating in a perfect competition factor market employs a resource where marginal revenue product is equal to the factor price.
- That perfect competition achieves efficiency in a factor market much like it does in a product market.
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ACCOUNTING PROFIT The difference between the revenue received by a firm and the explicit accounting cost incurred. This is the profit listed on a firm's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. While accounting profit is the "standard" designation of profit used in the business world, economists prefer to use economic profit
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for high interest rates.
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A half gallon milk jug holds about $50 in pennies.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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USDA
United States Department of Agriculture
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