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May 29, 2023 

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COMMAND AND CONTROL: A term frequently used when referring to government regulation of pollution emissions. This is where the government imposes regulations on polluters through the use of licenses, permits, zoning regulations, registration, and other controls. It should be contrasted with other methods of pollution control, especially Pigouvian tax, pollution rights market, Coase theorem, and recycling.

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PRIME RATE: The interest rate banks charge their best, most credit-worthy customers. This is one of the key interest rates in the economy, and it is watched closely by financial types, government policy makers, and businesses. It's also an interest rate that should be watched closely by consumers who have loans with adjustable rates, like credit cards, that are "pegged" to the prime rate. Any movement in the prime rate triggers an automatic change in these adjustable rates.

     See also | interest rate | bank | federal funds rate | discount rate |


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PRIME RATE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: May 29, 2023].


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AVERAGE FACTOR COST AND MARGINAL FACTOR COST

A mathematical connection between average factor cost and marginal factor cost stating that the change in the average factor cost depends on a comparison between average factor cost and marginal factor cost. For perfect competition, with no market control, marginal factor cost is equal to average factor cost, and average factor cost does not change. For monopsony and other firms with market control, marginal factor cost is greater than average factor cost, and average factor cost rises.

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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a how-to book on meeting people or clothing for your pet iguana. Be on the lookout for fairy dust that tastes like salt.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
"The man who does not read good books has no advantage over the man who cannot read them. "

-- Mark Twain

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