Examlex
A lender who successfully bids on property at a foreclosure sale is considered to have received repayment of the loan in the amount of the bid.
Capital
Economic resource that is used in the production of goods and services. It includes tools, buildings, machinery, and equipment.
Either-Or Decision
A decision-making process that involves choosing between two mutually exclusive options or paths.
Implicit Cost
The opportunity cost equal to what a firm must give up in order to use resources it already owns, not directly involving monetary payment.
Marginal Analysis
The study of marginal decisions.
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